TriMas (NASDAQ:TRS) Issues FY24 Earnings Guidance

TriMas (NASDAQ:TRS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.95-2.15 for the period, compared to the consensus estimate of $2.00.

TriMas Stock Performance

TRS opened at $26.75 on Tuesday. The company has a current ratio of 2.49, a quick ratio of 1.29 and a debt-to-equity ratio of 0.58. TriMas has a 12-month low of $22.59 and a 12-month high of $29.07. The firm has a 50 day moving average of $25.56 and a two-hundred day moving average of $25.07. The firm has a market capitalization of $1.09 billion, a PE ratio of 27.58 and a beta of 0.71.

TriMas (NASDAQ:TRS) last posted its quarterly earnings results on Thursday, February 29th. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17). The business had revenue of $209.60 million during the quarter, compared to analysts’ expectations of $246.44 million. TriMas had a net margin of 4.52% and a return on equity of 8.85%. TriMas’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. On average, analysts anticipate that TriMas will post 1.91 EPS for the current year.

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. TriMas’s payout ratio is 16.49%.

Insider Activity at TriMas

In other TriMas news, CEO Thomas A. Amato purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the purchase, the chief executive officer now directly owns 286,168 shares in the company, valued at $6,759,288.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

About TriMas

TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. The company operates through Packaging, Aerospace, and Specialty Products segments. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, and flexible spouts; polymeric jar products; integrated dispensers; bag-in-box products; and consumable vascular delivery and diagnostic test components under the Rieke, Taplast, Affaba & Ferrari, Intertech, Omega, and Rapak brands.