TriMas Co. Announces Quarterly Dividend of $0.04 (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Shareholders of record on Tuesday, August 6th will be given a dividend of 0.04 per share by the industrial products company on Tuesday, August 13th. This represents a $0.16 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, August 6th.

TriMas has a dividend payout ratio of 7.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect TriMas to earn $2.19 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 7.3%.

TriMas Stock Down 2.2 %

TriMas stock opened at $23.76 on Monday. TriMas has a 1-year low of $22.59 and a 1-year high of $27.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.82 and a quick ratio of 1.41. The stock has a market cap of $965.84 million, a PE ratio of 24.49 and a beta of 0.67. The stock’s fifty day moving average is $25.98 and its two-hundred day moving average is $25.76.

TriMas (NASDAQ:TRS) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.10). TriMas had a return on equity of 9.61% and a net margin of 4.44%. The firm had revenue of $240.50 million for the quarter, compared to analyst estimates of $238.63 million. During the same quarter last year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts expect that TriMas will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Scott A. Mell sold 1,500 shares of TriMas stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $27.30, for a total transaction of $40,950.00. Following the completion of the transaction, the chief financial officer now directly owns 31,923 shares in the company, valued at approximately $871,497.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other TriMas news, Director Herbert K. Parker purchased 6,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was bought at an average cost of $26.27 per share, for a total transaction of $157,620.00. Following the acquisition, the director now owns 51,157 shares of the company’s stock, valued at approximately $1,343,894.39. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Mell sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $27.30, for a total value of $40,950.00. Following the sale, the chief financial officer now owns 31,923 shares of the company’s stock, valued at $871,497.90. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a “buy” rating and issued a $40.00 price objective on shares of TriMas in a report on Wednesday, July 31st.

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.