TriMas (NASDAQ:TRS) Announces Earnings Results

TriMas (NASDAQ:TRS) issued its earnings results on Tuesday. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09, Briefing.com reports. TriMas had a net margin of 4.52% and a return on equity of 8.85%. The business had revenue of $227.10 million for the quarter, compared to analysts’ expectations of $220.60 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. TriMas updated its FY24 guidance to $1.95-2.15 EPS and its FY 2024 guidance to 1.950-2.150 EPS.

TriMas Price Performance

Shares of TRS traded up $0.04 during mid-day trading on Wednesday, reaching $26.03. 54,236 shares of the stock traded hands, compared to its average volume of 239,808. TriMas has a 1 year low of $22.59 and a 1 year high of $29.07. The firm has a fifty day moving average price of $25.57 and a 200 day moving average price of $25.08. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 26.67 and a beta of 0.71. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be given a dividend of $0.04 per share. The ex-dividend date 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 (DPR) is currently 16.49%.

Insider Buying and Selling

In related news, CEO Thomas A. Amato bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the transaction, the chief executive officer now owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company insiders.

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.