TriMas Co. to Post Q1 2024 Earnings of $0.25 Per Share, Zacks Research Forecasts (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) – Equities researchers at Zacks Research reduced their Q1 2024 earnings per share estimates for shares of TriMas in a research note issued on Tuesday, April 23rd. Zacks Research analyst M. Das now expects that the industrial products company will earn $0.25 per share for the quarter, down from their prior forecast of $0.27. The consensus estimate for TriMas’ current full-year earnings is $1.91 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 (NASDAQ:TRS) last issued its quarterly earnings data 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). The firm had revenue of $209.60 million during the quarter, compared to analyst estimates of $246.44 million. TriMas had a net margin of 4.52% and a return on equity of 8.85%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share.

TriMas Stock Performance

TRS opened at $25.93 on Wednesday. The firm has a market cap of $1.06 billion, a P/E ratio of 26.73 and a beta of 0.71. TriMas has a 52-week low of $22.59 and a 52-week 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 business’s fifty day moving average is $25.50 and its 200-day moving average is $25.03.

TriMas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, May 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.62%. TriMas’s dividend payout ratio is currently 16.49%.

Insider Buying and Selling

In other news, CEO Thomas A. Amato bought 10,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriMas

Hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its stake in TriMas by 30.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 43,581 shares of the industrial products company’s stock worth $1,079,000 after purchasing an additional 10,098 shares during the period. Charles Schwab Investment Management Inc. grew its stake in TriMas by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 517,025 shares of the industrial products company’s stock valued at $12,802,000 after acquiring an additional 21,767 shares during the period. Vanguard Group Inc. grew its stake in TriMas by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,215,033 shares of the industrial products company’s stock valued at $104,364,000 after acquiring an additional 34,517 shares during the period. Allspring Global Investments Holdings LLC grew its stake in TriMas by 16.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock valued at $77,757,000 after acquiring an additional 422,717 shares during the period. Finally, Redmond Asset Management LLC grew its stake in TriMas by 157.8% in the third quarter. Redmond Asset Management LLC now owns 67,042 shares of the industrial products company’s stock valued at $1,660,000 after acquiring an additional 41,036 shares during the period. 99.42% of the stock is currently owned by institutional investors.

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.