FY2024 Earnings Estimate for TriMas Co. Issued By BWS Financial (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) – BWS Financial raised their FY2024 earnings estimates for shares of TriMas in a research note issued on Wednesday, May 1st. BWS Financial analyst H. Khorsand now expects that the industrial products company will post earnings of $2.03 per share for the year, up from their previous forecast of $2.01. BWS Financial currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for TriMas’ current full-year earnings is $1.92 per share. BWS Financial also issued estimates for TriMas’ Q4 2024 earnings at $0.51 EPS.

TriMas Stock Performance

NASDAQ:TRS opened at $26.21 on Monday. The stock has a market capitalization of $1.07 billion, a PE ratio of 27.02 and a beta of 0.71. The company has a fifty day moving average of $25.59 and a two-hundred day moving average of $25.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.29 and a current ratio of 2.73. TriMas has a fifty-two week low of $22.59 and a fifty-two week high of $29.07.

TriMas (NASDAQ:TRS) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $227.10 million during the quarter, compared to analysts’ expectations of $220.60 million. TriMas had a return on equity of 9.68% and a net margin of 4.48%. TriMas’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS.

Institutional Investors Weigh In On TriMas

Several large investors have recently bought and sold shares of TRS. Allspring Global Investments Holdings LLC increased its stake in shares of TriMas by 16.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock worth $77,757,000 after buying an additional 422,717 shares during the period. Norges Bank purchased a new stake in shares of TriMas in the 4th quarter valued at approximately $6,767,000. Pzena Investment Management LLC raised its holdings in shares of TriMas by 7.0% in the 3rd quarter. Pzena Investment Management LLC now owns 2,570,194 shares of the industrial products company’s stock valued at $63,638,000 after purchasing an additional 167,452 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of TriMas during the 4th quarter worth $3,764,000. Finally, Fiduciary Management Inc. WI grew its stake in shares of TriMas by 4.3% during the fourth quarter. Fiduciary Management Inc. WI now owns 3,106,943 shares of the industrial products company’s stock worth $78,699,000 after purchasing an additional 129,477 shares in the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Thomas A. Amato bought 10,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the acquisition, the chief executive officer now directly owns 286,168 shares in the company, valued at $6,759,288.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Herbert K. Parker bought 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $25.98 per share, with a total value of $25,980.00. Following the completion of the transaction, the director now directly owns 30,057 shares in the company, valued at $780,880.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas A. Amato bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the purchase, the chief executive officer now owns 286,168 shares in the company, valued at approximately $6,759,288.16. The disclosure for this purchase can be found here. Insiders have acquired a total of 13,500 shares of company stock valued at $325,550 in the last 90 days. 1.10% of the stock is owned by insiders.

TriMas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Monday, May 6th. TriMas’s payout ratio is 16.49%.

About TriMas

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.