TriMas (NASDAQ:TRS) Issues Quarterly Earnings Results

TriMas (NASDAQ:TRS) released its quarterly earnings results on Monday. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.14), Briefing.com reports. TriMas had a return on equity of 9.23% and a net margin of 2.93%. The firm had revenue of $229.36 million for the quarter, compared to the consensus estimate of $239.33 million. During the same quarter in the previous year, the business posted $0.57 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. TriMas updated its FY24 guidance to $1.70-1.90 EPS and its FY 2024 guidance to 1.700-1.900 EPS.

TriMas Trading Up 4.4 %

Shares of NASDAQ:TRS traded up $1.16 during mid-day trading on Wednesday, hitting $27.34. The company had a trading volume of 735,024 shares, compared to its average volume of 268,553. The firm has a fifty day moving average price of $25.91 and a 200 day moving average price of $25.83. The company has a market capitalization of $1.11 billion, a PE ratio of 42.72 and a beta of 0.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.82 and a quick ratio of 1.48. TriMas has a one year low of $22.45 and a one year high of $28.51.

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.59%. TriMas’s dividend payout ratio is currently 25.00%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TRS shares. BWS Financial reiterated a “buy” rating and issued a $40.00 price objective on shares of TriMas in a research note on Tuesday. StockNews.com lowered shares of TriMas from a “hold” rating to a “sell” rating in a research note on Tuesday.

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.