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

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

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

TriMas Stock Up 2.1 %

Shares of TRS stock opened at $26.48 on Thursday. TriMas has a 1-year low of $22.59 and a 1-year high of $29.07. The stock’s fifty day moving average price is $25.53 and its 200 day moving average price is $25.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.49 and a quick ratio of 1.29. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 27.30 and a beta of 0.71.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors 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 annualized dividend and a yield of 0.60%. TriMas’s dividend payout ratio (DPR) is 16.49%.

Insider Buying and Selling at TriMas

In other news, CEO Thomas A. Amato purchased 10,000 shares of the company’s stock in a transaction 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 purchase, the chief executive officer now owns 286,168 shares in the company, valued at $6,759,288.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Trading of TriMas

Several large investors have recently added to or reduced their stakes in TRS. Oppenheimer Asset Management Inc. lifted its holdings in shares of TriMas by 30.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,581 shares of the industrial products company’s stock valued at $1,079,000 after buying an additional 10,098 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of TriMas by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 517,025 shares of the industrial products company’s stock valued at $12,802,000 after buying an additional 21,767 shares during the period. Vanguard Group Inc. raised its holdings in TriMas by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,215,033 shares of the industrial products company’s stock worth $104,364,000 after purchasing an additional 34,517 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in TriMas by 16.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock worth $77,757,000 after purchasing an additional 422,717 shares during the period. Finally, Redmond Asset Management LLC raised its holdings in TriMas by 157.8% in the 3rd quarter. Redmond Asset Management LLC now owns 67,042 shares of the industrial products company’s stock worth $1,660,000 after purchasing an additional 41,036 shares during the period. Hedge funds and other institutional investors own 99.42% of the company’s stock.

TriMas Company Profile

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.