TriMas Co. to Post Q2 2023 Earnings of $0.49 Per Share, BWS Financial Forecasts (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS – Get Rating) – Research analysts at BWS Financial issued their Q2 2023 earnings per share estimates for shares of TriMas in a report released on Monday, May 22nd. BWS Financial analyst H. Khorsand expects that the industrial products company will earn $0.49 per share for the quarter. BWS Financial currently has a “Buy” rating and a $40.00 price target on the stock. The consensus estimate for TriMas’ current full-year earnings is $2.06 per share. BWS Financial also issued estimates for TriMas’ Q3 2023 earnings at $0.69 EPS, Q4 2023 earnings at $0.35 EPS, Q1 2024 earnings at $0.38 EPS, Q2 2024 earnings at $0.60 EPS, Q3 2024 earnings at $0.78 EPS, Q4 2024 earnings at $0.44 EPS and FY2024 earnings at $2.20 EPS.

A number of other equities analysts have also commented on the company. StockNews.com initiated coverage on TriMas in a report on Thursday, May 18th. They issued a “hold” rating for the company. TheStreet lowered TriMas from a “b” rating to a “c” rating in a report on Monday, May 1st.

TriMas Price Performance

Shares of NASDAQ TRS opened at $25.49 on Wednesday. The stock has a fifty day simple moving average of $26.42 and a two-hundred day simple moving average of $27.87. TriMas has a 1-year low of $21.41 and a 1-year high of $31.89. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 18.74 and a beta of 0.71. The company has a current ratio of 2.63, a quick ratio of 1.48 and a debt-to-equity ratio of 0.61.

TriMas (NASDAQ:TRS – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $215.50 million during the quarter, compared to the consensus estimate of $208.00 million. TriMas had a return on equity of 10.49% and a net margin of 6.50%. TriMas’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 11th. Stockholders of record on Thursday, May 4th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $0.16 annualized dividend and a dividend yield of 0.63%. TriMas’s dividend payout ratio is currently 11.76%.

Insider Transactions at TriMas

In related news, Director Jeffrey A. Fielkow acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were purchased at an average price of $25.26 per share, for a total transaction of $25,260.00. Following the completion of the acquisition, the director now owns 4,445 shares in the company, valued at $112,280.70. The purchase was disclosed in a filing with the SEC, which is available at this link. In other TriMas news, Director Jeffrey A. Fielkow bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were bought at an average cost of $25.26 per share, with a total value of $25,260.00. Following the completion of the purchase, the director now directly owns 4,445 shares of the company’s stock, valued at $112,280.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Samuel Valenti III sold 4,000 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $29.68, for a total value of $118,720.00. Following the completion of the sale, the chairman now directly owns 8,148 shares in the company, valued at $241,832.64. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,027 shares of company stock worth $26,008. Company insiders own 1.10% of the company’s stock.

Institutional Trading of TriMas

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in shares of TriMas by 90.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,144 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 544 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of TriMas by 308.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,298 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 980 shares in the last quarter. Ellevest Inc. boosted its position in shares of TriMas by 30.6% in the 1st quarter. Ellevest Inc. now owns 2,791 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 654 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of TriMas by 182.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,912 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 1,880 shares in the last quarter. Finally, UBS Group AG raised its holdings in TriMas by 80.9% in the 3rd quarter. UBS Group AG now owns 3,614 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 1,616 shares during the last quarter. 99.94% of the stock is owned by institutional investors.

About TriMas

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TriMas Corp. engages in the manufacture of industrial products for customers in the consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets. It operates through the following segments: Packaging, Aerospace, and Specialty Products. The Packaging segment designs and manufactures dispensing products, including foaming pumps, lotion and hand soap pumps, sanitizer pumps, beverage dispensers, perfume sprayers, nasal sprayers and trigger sprayers, polymeric and steel caps and closures, including food lids, flip-top closures, child resistant caps, drum and pail closures, and flexible spouts, polymeric jar products, and fully integrated dispensers for fill-ready bag-in-box applications, all for a variety of consumer product markets including, but not limited to, beauty and personal care, home care, food and beverage, and pharmaceutical and nutraceutical, as well as the industrial market.