TriMas Corporation (TRS) To Go Ex-Dividend on November 5th

TriMas Corporation (NASDAQ:TRS) declared a quarterly dividend on Wednesday, October 21st. Stockholders of record on Thursday, November 5th will be given a dividend of $0.04 per share by the industrial products company on Thursday, November 12th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, November 5th.

TriMas has a payout ratio of 7.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TriMas to earn $2.17 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 7.4%.

TriMas Stock Up 4.7%

Shares of NASDAQ TRS opened at $39.92 on Tuesday. TriMas has a 12-month low of $30.43 and a 12-month high of $45.42. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.44 and a quick ratio of 5.03. The firm’s 50-day moving average is $38.96 and its two-hundred day moving average is $38.65. The company has a market capitalization of $1.43 billion, a PE ratio of 22.24 and a beta of 0.61.

TriMas (NASDAQ:TRS) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $178.74 million during the quarter, compared to the consensus estimate of $175.16 million. TriMas had a return on equity of 6.41% and a net margin of 104.22%. TriMas’s revenue was down 33.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. Equities analysts anticipate that TriMas will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRS. Bank of America Corp DE boosted its stake in TriMas by 1.7% during the 1st quarter. Bank of America Corp DE now owns 3,845,726 shares of the industrial products company’s stock valued at $138,215,000 after purchasing an additional 62,802 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of TriMas by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,259,891 shares of the industrial products company’s stock valued at $81,220,000 after buying an additional 91,003 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of TriMas in the 2nd quarter worth approximately $16,478,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of TriMas by 56.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 357,387 shares of the industrial products company’s stock valued at $12,844,000 after buying an additional 128,811 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. purchased a new stake in shares of TriMas during the first quarter valued at $8,795,000. Institutional investors and hedge funds own 99.42% of the company’s stock.

TriMas Company Profile

TriMas Corporation (NASDAQ: TRS) is a diversified manufacturer that develops and produces engineered products for the packaging, aerospace and industrial markets. The company serves customers through three primary business segments: TriMas Packaging, TriMas Aerospace and TriMas Specialty Products.

TriMas Packaging manufactures dispensing systems, closures, bottles, jars, cartridges and other packaging components used in consumer, industrial, food, beverage, healthcare and personal-care applications.