TriMas (NASDAQ:TRS) Releases FY 2024 Earnings Guidance

TriMas (NASDAQ:TRS) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.950-2.150 for the period, compared to the consensus earnings per share estimate of 2.000. The company issued revenue guidance of $938.2 million-$965.0 million, compared to the consensus revenue estimate of $950.4 million. TriMas also updated its FY24 guidance to $1.95-2.15 EPS.

TriMas Stock Performance

NASDAQ TRS traded down $0.37 on Tuesday, reaching $26.38. The stock had a trading volume of 168,587 shares, compared to its average volume of 238,202. The company has a market cap of $1.08 billion, a P/E ratio of 27.58 and a beta of 0.71. TriMas has a 1-year low of $22.59 and a 1-year high of $29.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.49 and a quick ratio of 1.29. The firm has a fifty day moving average of $25.56 and a two-hundred day moving average of $25.07.

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

TriMas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be paid a $0.04 dividend. 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 0.61%. TriMas’s dividend payout ratio is presently 16.49%.

Insiders Place Their Bets

In other TriMas news, CEO Thomas A. Amato acquired 10,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the purchase, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

TriMas Company Profile

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.