TriMas Co. to Post Q1 2024 Earnings of $0.25 Per Share, Zacks Research Forecasts (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) – Research analysts at Zacks Research reduced their Q1 2024 EPS estimates for shares of TriMas in a research note issued to investors on Tuesday, April 23rd. Zacks Research analyst M. Das now anticipates that the industrial products company will earn $0.25 per share for the quarter, down from their previous estimate of $0.27. The consensus estimate for TriMas’ current full-year earnings is $1.91 per share. Zacks Research also issued estimates for TriMas’ Q2 2024 earnings at $0.48 EPS, Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $1.81 EPS, Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.58 EPS, Q4 2025 earnings at $0.58 EPS, FY2025 earnings at $2.19 EPS, Q1 2026 earnings at $0.53 EPS and FY2026 earnings at $2.36 EPS.

TriMas (NASDAQ:TRS) last announced its quarterly earnings data on Thursday, February 29th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). The business had revenue of $209.60 million during the quarter, compared to analyst estimates of $246.44 million. TriMas had a net margin of 4.52% and a return on equity of 8.85%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share.

TriMas Stock Performance

Shares of TriMas stock opened at $25.93 on Wednesday. TriMas has a one year low of $22.59 and a one year high of $29.07. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 26.73 and a beta of 0.71. The business has a 50-day simple moving average of $25.50 and a 200 day simple moving average of $25.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.49 and a quick ratio of 1.29.

Institutional Investors Weigh In On TriMas

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position in shares of TriMas by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,095,572 shares of the industrial products company’s stock worth $82,745,000 after buying an additional 25,795 shares in the last quarter. Diversified Trust Co increased its stake in TriMas by 32.7% in the first quarter. Diversified Trust Co now owns 21,647 shares of the industrial products company’s stock valued at $579,000 after acquiring an additional 5,333 shares during the last quarter. Quadrature Capital Ltd bought a new position in TriMas in the fourth quarter valued at $1,102,000. Vanguard Group Inc. increased its stake in TriMas by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,258,456 shares of the industrial products company’s stock valued at $107,867,000 after acquiring an additional 43,423 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in TriMas by 1.5% in the fourth quarter. Wellington Management Group LLP now owns 2,393,786 shares of the industrial products company’s stock valued at $60,635,000 after acquiring an additional 34,596 shares during the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.

Insider Activity

In other news, CEO Thomas A. Amato acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the purchase, the chief executive officer now owns 286,168 shares in the company, valued at $6,759,288.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, May 6th. TriMas’s dividend payout ratio is presently 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.