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 Price Performance

Shares of TRS traded down $0.42 during mid-day trading on Tuesday, hitting $26.33. 57,189 shares of the company were exchanged, compared to its average volume of 236,956. TriMas has a 1-year low of $22.59 and a 1-year high of $29.07. The company has a 50 day moving average of $25.56 and a 200-day moving average of $25.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.29 and a current ratio of 2.49. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 27.58 and a beta of 0.71.

TriMas (NASDAQ:TRS) last posted its earnings results on Thursday, February 29th. The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Analysts expect that TriMas will post 1.91 EPS for the current fiscal year.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be issued a $0.04 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.61%. TriMas’s dividend payout ratio is currently 16.49%.

Insider Activity at TriMas

In other news, CEO Thomas A. Amato bought 10,000 shares of the 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 acquisition, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at approximately $6,759,288.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by 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.