TriMas (NASDAQ:TRS) Releases Earnings Results, Beats Estimates By $0.09 EPS

TriMas (NASDAQ:TRS) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09, Briefing.com reports. The company had revenue of $227.10 million during the quarter, compared to the consensus estimate of $220.60 million. TriMas had a net margin of 4.52% and a return on equity of 8.85%. TriMas’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. TriMas updated its FY24 guidance to $1.95-2.15 EPS and its FY 2024 guidance to 1.950-2.150 EPS.

TriMas Trading Up 0.1 %

TRS stock traded up $0.03 during trading on Wednesday, reaching $26.02. 63,209 shares of the stock traded hands, compared to its average volume of 239,956. The business’s 50 day moving average price is $25.57 and its 200-day moving average price is $25.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.49 and a quick ratio of 1.29. The firm has a market capitalization of $1.06 billion, a PE ratio of 26.67 and a beta of 0.71. TriMas has a 52-week low of $22.59 and a 52-week high of $29.07.

TriMas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend 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 Transactions at TriMas

In related news, CEO Thomas A. Amato purchased 10,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.