TriMas (NASDAQ:TRS) Updates FY 2024 Earnings Guidance

TriMas (NASDAQ:TRS) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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 Stock Down 1.4 %

Shares of TriMas stock traded down $0.37 on Tuesday, hitting $26.38. The company had a trading volume of 168,587 shares, compared to its average volume of 238,202. The stock has a market capitalization of $1.08 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. The stock has a 50 day moving average of $25.56 and a 200-day moving average of $25.07. TriMas has a 1 year low of $22.59 and a 1 year high of $29.07.

TriMas (NASDAQ:TRS) last released its earnings results on Thursday, February 29th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.17). The business had revenue of $209.60 million during the quarter, compared to the consensus estimate of $246.44 million. TriMas had a net margin of 4.52% and a return on equity of 8.85%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, sell-side analysts forecast that TriMas will post 1.91 earnings per share for the current year.

TriMas Dividend Announcement

The business 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 $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Monday, May 6th. TriMas’s payout ratio is currently 16.49%.

Insider Transactions at TriMas

In related news, CEO Thomas A. Amato purchased 10,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $23.62 per share, with a total value of $236,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.