TriMas (NASDAQ:TRS) Issues Earnings Results

TriMas (NASDAQ:TRS) issued its earnings results on Monday. The industrial products company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14), Briefing.com reports. TriMas had a return on equity of 9.61% and a net margin of 4.44%. The business had revenue of $229.36 million for the quarter, compared to analyst estimates of $239.33 million. During the same period last year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. TriMas updated its FY24 guidance to $1.70-1.90 EPS and its FY 2024 guidance to 1.700-1.900 EPS.

TriMas Stock Performance

Shares of TRS opened at $24.87 on Tuesday. The firm has a fifty day moving average of $25.83 and a 200-day moving average of $25.82. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 25.38 and a beta of 0.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 2.82. TriMas has a 1 year low of $22.45 and a 1 year high of $28.51.

TriMas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, November 5th. TriMas’s dividend payout ratio is presently 16.33%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and set a $40.00 price objective on shares of TriMas in a research note on Wednesday, October 9th.

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.