BWS Financial Weighs in on TriMas Co.’s FY2024 Earnings (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) – BWS Financial raised their FY2024 earnings per share (EPS) estimates for TriMas in a report issued on Wednesday, May 1st. BWS Financial analyst H. Khorsand now expects that the industrial products company will post earnings of $2.03 per share for the year, up from their previous estimate of $2.01. BWS Financial currently has a “Buy” rating and a $40.00 price target on the stock. The consensus estimate for TriMas’ current full-year earnings is $1.92 per share. BWS Financial also issued estimates for TriMas’ Q4 2024 earnings at $0.51 EPS.

TriMas Price Performance

TRS opened at $26.25 on Monday. The company has a quick ratio of 1.41, a current ratio of 2.73 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $25.61 and its 200 day moving average price is $25.15. TriMas has a fifty-two week low of $22.59 and a fifty-two week high of $29.07. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 27.06 and a beta of 0.71.

TriMas (NASDAQ:TRS) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share 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 business had revenue of $227.10 million during the quarter, compared to the consensus estimate of $220.60 million. During the same period in the previous year, the business earned $0.30 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis.

TriMas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Monday, May 6th. TriMas’s dividend payout ratio (DPR) is 16.49%.

Insider Buying and Selling at TriMas

In other TriMas news, Director Herbert K. Parker purchased 1,000 shares of TriMas stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $25.98 per share, for a total transaction of $25,980.00. Following the transaction, the director now owns 30,057 shares of the company’s stock, valued at approximately $780,880.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Herbert K. Parker bought 1,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were purchased at an average price of $25.98 per share, with a total value of $25,980.00. Following the purchase, the director now owns 30,057 shares in the company, valued at $780,880.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas A. Amato purchased 10,000 shares of TriMas stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 286,168 shares in the company, valued at approximately $6,759,288.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 13,500 shares of company stock worth $325,550. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On TriMas

A number of institutional investors and hedge funds have recently bought and sold shares of TRS. SG Americas Securities LLC acquired a new position in shares of TriMas in the 4th quarter worth approximately $205,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of TriMas by 31.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,089 shares of the industrial products company’s stock valued at $225,000 after buying an additional 2,173 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of TriMas by 5.7% during the 1st quarter. Quantbot Technologies LP now owns 8,933 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 478 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of TriMas during the 3rd quarter worth $308,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of TriMas by 19.8% in the 4th quarter. Handelsbanken Fonder AB now owns 15,095 shares of the industrial products company’s stock worth $382,000 after acquiring an additional 2,500 shares during the last quarter. 99.42% of the stock is owned by institutional investors and hedge funds.

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.