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 1.700-1.900 for the period, compared to the consensus earnings per share estimate of 2.030. The company issued revenue guidance of $929.3 million-$947.2 million, compared to the consensus revenue estimate of $959.3 million. TriMas also updated its FY24 guidance to $1.70-1.90 EPS.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a buy rating and set a $40.00 price objective on shares of TriMas in a research report on Wednesday, May 1st.

TriMas Trading Down 5.3 %

Shares of NASDAQ:TRS traded down $1.44 during midday trading on Tuesday, reaching $25.88. 263,489 shares of the company’s stock were exchanged, compared to its average volume of 212,649. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 28.16 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.73 and a quick ratio of 1.41. The firm’s 50 day simple moving average is $26.19 and its two-hundred day simple moving average is $25.76. TriMas has a fifty-two week low of $22.59 and a fifty-two week high of $27.89.

TriMas (NASDAQ:TRS) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $227.10 million during the quarter, compared to the consensus estimate of $220.60 million. TriMas had a return on equity of 9.68% and a net margin of 4.48%. TriMas’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. As a group, sell-side analysts forecast that TriMas will post 2.03 EPS for the current fiscal year.

TriMas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, August 6th. TriMas’s dividend payout ratio is currently 16.49%.

Insider Activity

In other news, CFO Scott A. Mell sold 1,500 shares of TriMas stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $27.30, for a total value of $40,950.00. Following the completion of the transaction, the chief financial officer now owns 31,923 shares in the company, valued at approximately $871,497.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other TriMas news, Director Herbert K. Parker acquired 6,100 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average price of $26.52 per share, with a total value of $161,772.00. Following the completion of the acquisition, the director now directly owns 39,157 shares of the company’s stock, valued at approximately $1,038,443.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Mell sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $27.30, for a total value of $40,950.00. Following the completion of the sale, the chief financial officer now directly owns 31,923 shares in the company, valued at approximately $871,497.90. The disclosure for this sale can be found here. In the last quarter, insiders purchased 14,681 shares of company stock worth $387,053. 1.10% of the stock is currently owned by company insiders.

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.