TriMas Co. (TRS) to Issue Quarterly Dividend of $0.04 on May 14th

TriMas Co. (NASDAQ:TRS) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Tuesday, May 7th will be paid a dividend of 0.04 per share by the industrial products company on Tuesday, May 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Monday, May 6th.

TriMas has a dividend payout ratio of 7.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TriMas to earn $2.19 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 7.3%.

TriMas Stock Down 0.0 %

NASDAQ TRS opened at $26.21 on Friday. The business has a fifty day moving average price of $25.59 and a two-hundred day moving average price of $25.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.73 and a quick ratio of 1.29. TriMas has a fifty-two week low of $22.59 and a fifty-two week high of $29.07. The stock has a market capitalization of $1.07 billion, a PE ratio of 27.02 and a beta of 0.71.

TriMas (NASDAQ:TRS) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. TriMas had a return on equity of 9.68% and a net margin of 4.48%. The company had revenue of $227.10 million during the quarter, compared to analysts’ expectations of $220.60 million. During the same period in the prior year, the company earned $0.30 EPS. TriMas’s revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that TriMas will post 1.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and issued a $40.00 price target on shares of TriMas in a research note on Wednesday.

Insiders Place Their Bets

In related news, Director Herbert K. Parker purchased 1,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $26.34 per share, with a total value of $39,510.00. Following the acquisition, the director now owns 33,057 shares of the company’s stock, valued at approximately $870,721.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Thomas A. Amato purchased 10,000 shares of TriMas stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the transaction, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Herbert K. Parker purchased 1,500 shares of TriMas stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $26.34 per share, with a total value of $39,510.00. Following the completion of the transaction, the director now directly owns 33,057 shares in the company, valued at $870,721.38. The disclosure for this purchase can be found here. Insiders have bought a total of 13,500 shares of company stock valued at $325,550 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

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.