Zacks Research Weighs in on TriMas Co.’s Q3 2024 Earnings (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) – Research analysts at Zacks Research boosted their Q3 2024 earnings estimates for shares of TriMas in a note issued to investors on Tuesday, April 23rd. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $0.59 per share for the quarter, up from their previous estimate of $0.58. The consensus estimate for TriMas’ current full-year earnings is $1.91 per share.

TriMas Price Performance

Shares of NASDAQ:TRS opened at $26.48 on Thursday. The company has a 50-day simple moving average of $25.53 and a 200-day simple moving average of $25.04. TriMas has a one year low of $22.59 and a one year high of $29.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.29 and a current ratio of 2.49. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 27.30 and a beta of 0.71.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew 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 valued at $82,745,000 after purchasing an additional 25,795 shares during the last quarter. Diversified Trust Co grew its position in shares of 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 purchasing an additional 5,333 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of TriMas in the fourth quarter valued at approximately $1,102,000. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 43,423 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of 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 purchasing an additional 34,596 shares during the last quarter. 99.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TriMas

In other news, CEO Thomas A. Amato purchased 10,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the purchase, the chief executive officer now directly owns 286,168 shares in the company, valued at approximately $6,759,288.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

TriMas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. TriMas’s dividend payout ratio (DPR) 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.