Research Analysts Issue Forecasts for TriMas Co.’s Q1 2024 Earnings (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) – Equities research analysts at Zacks Research dropped their Q1 2024 earnings per share estimates for TriMas in a research note issued on Tuesday, April 23rd. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $0.25 for the quarter, down from their previous forecast of $0.27. The consensus estimate for TriMas’ current full-year earnings is $1.94 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 Trading Up 1.4 %

Shares of NASDAQ TRS opened at $26.25 on Wednesday. TriMas has a twelve month low of $22.59 and a twelve month high of $29.07. The company has a current ratio of 2.49, a quick ratio of 1.29 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $25.46 and a 200-day simple moving average of $25.01. The stock has a market capitalization of $1.07 billion, a PE ratio of 27.06 and a beta of 0.71.

TriMas (NASDAQ:TRS) last posted its earnings results on Thursday, February 29th. The industrial products company reported $0.37 EPS 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 business had revenue of $209.60 million during the quarter, compared to analysts’ expectations of $246.44 million. During the same quarter in the prior year, the firm earned $0.62 EPS. TriMas’s revenue for the quarter was up 3.1% compared to the same quarter last year.

TriMas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, March 1st were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.16 annualized dividend and a yield of 0.61%. TriMas’s payout ratio is 16.49%.

Insider Buying and Selling

In other TriMas news, CEO Thomas A. Amato purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $23.62 per share, with a total value of $236,200.00. Following the acquisition, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Trading of TriMas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in TriMas during the 4th quarter valued at approximately $205,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TriMas by 31.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,089 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 2,173 shares during the last quarter. Inspire Investing LLC purchased a new stake in TriMas during the 3rd quarter valued at approximately $308,000. Handelsbanken Fonder AB raised its stake in TriMas by 19.8% during the 4th quarter. Handelsbanken Fonder AB now owns 15,095 shares of the industrial products company’s stock valued at $382,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its stake in TriMas by 5.0% during the 4th quarter. Summit Trail Advisors LLC now owns 15,158 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 716 shares during the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.

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.