TriMas (NASDAQ:TRS) Issues FY 2024 Earnings Guidance

TriMas (NASDAQ:TRS) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.700-1.900 for the period, compared to the consensus EPS estimate of 2.030. The company issued revenue guidance of $929.3 million-$947.2 million, compared to the consensus revenue estimate of $959.3 million. TriMas also updated its FY24 guidance to $1.70-1.90 EPS.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a buy rating and issued a $40.00 price target on shares of TriMas in a research note on Wednesday.

TriMas Price Performance

Shares of NASDAQ TRS traded down $0.80 during midday trading on Wednesday, reaching $24.58. 410,215 shares of the company were exchanged, compared to its average volume of 215,306. The stock’s 50-day moving average price is $26.10 and its 200-day moving average price is $25.75. The stock has a market cap of $1.00 billion, a P/E ratio of 25.34 and a beta of 0.67. The company has a quick ratio of 1.41, a current ratio of 2.73 and a debt-to-equity ratio of 0.63. TriMas has a one year low of $22.59 and a one year high of $27.89.

TriMas (NASDAQ:TRS) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.10). The company had revenue of $240.50 million for the quarter, compared to analyst estimates of $238.63 million. TriMas had a return on equity of 9.68% and a net margin of 4.48%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share. On average, sell-side analysts anticipate that TriMas will post 2.03 earnings per share for the current fiscal year.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.65%. TriMas’s payout ratio is 16.49%.

Insider Buying and Selling at TriMas

In related news, Director Herbert K. Parker acquired 6,100 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were bought at an average price of $26.52 per share, with a total value of $161,772.00. Following the transaction, the director now directly owns 39,157 shares of the company’s stock, valued at $1,038,443.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Scott A. Mell sold 1,500 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $27.30, for a total transaction of $40,950.00. Following the transaction, the chief financial officer now owns 31,923 shares of the company’s stock, valued at approximately $871,497.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herbert K. Parker acquired 6,100 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $26.52 per share, for a total transaction of $161,772.00. Following the transaction, the director now directly owns 39,157 shares in the company, valued at $1,038,443.64. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 13,681 shares of company stock valued at $361,073. 1.10% of the stock is currently 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.