TriMas (NASDAQ:TRS) Releases FY 2024 Earnings Guidance

TriMas (NASDAQ:TRS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.950-2.150 for the period, compared to the consensus EPS 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 Trading Down 1.6 %

TRS traded down $0.42 during trading on Tuesday, reaching $26.33. The company had a trading volume of 57,189 shares, compared to its average volume of 236,956. The firm’s 50-day simple moving average is $25.56 and its 200 day simple moving average is $25.07. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 27.58 and a beta of 0.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.29 and a current ratio of 2.49. TriMas has a 12-month low of $22.59 and a 12-month high of $29.07.

TriMas (NASDAQ:TRS) last posted 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). TriMas had a return on equity of 8.85% and a net margin of 4.52%. The firm had revenue of $209.60 million during the quarter, compared to analyst estimates of $246.44 million. During the same period in the prior year, the business posted $0.62 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities research analysts anticipate that TriMas will post 1.91 earnings per share for the current year.

TriMas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, May 6th. TriMas’s payout ratio is 16.49%.

Insider Buying and Selling at TriMas

In related news, CEO Thomas A. Amato purchased 10,000 shares of TriMas stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $23.62 per share, with a total value of $236,200.00. Following the completion of the transaction, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.