TriMas (NASDAQ:TRS) Updates FY24 Earnings Guidance

TriMas (NASDAQ:TRS) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $1.95-2.15 for the period, compared to the consensus EPS estimate of $2.00. TriMas also updated its FY 2024 guidance to 1.950-2.150 EPS.

TriMas Stock Down 1.5 %

TRS stock traded down $0.41 during mid-day trading on Tuesday, hitting $26.34. The stock had a trading volume of 97,409 shares, compared to its average volume of 237,451. TriMas has a 1-year low of $22.59 and a 1-year high of $29.07. The company has a fifty day moving average of $25.56 and a 200 day moving average of $25.07. The company has a current ratio of 2.49, a quick ratio of 1.29 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 27.58 and a beta of 0.71.

TriMas (NASDAQ:TRS) last released 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 return on equity of 8.85% and a net margin of 4.52%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 EPS. On average, equities analysts expect that TriMas will post 1.91 EPS for the current fiscal year.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be issued 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 is currently 16.49%.

Insiders Place Their Bets

In related news, CEO Thomas A. Amato acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $23.62 per share, with a total value of $236,200.00. Following the purchase, the chief executive officer now owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.