TriMas Co. Forecasted to Earn FY2024 Earnings of $1.70 Per Share (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) – BWS Financial lowered their FY2024 earnings per share (EPS) estimates for TriMas in a research report issued on Wednesday, October 9th. BWS Financial analyst H. Khorsand now anticipates that the industrial products company will post earnings of $1.70 per share for the year, down from their previous forecast of $1.72. BWS Financial has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for TriMas’ current full-year earnings is $1.76 per share. BWS Financial also issued estimates for TriMas’ Q4 2024 earnings at $0.35 EPS and Q3 2025 earnings at $0.56 EPS.

TriMas (NASDAQ:TRS) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.10). The firm had revenue of $240.50 million during the quarter, compared to analysts’ expectations of $238.63 million. TriMas had a return on equity of 9.61% and a net margin of 4.44%. The firm’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 $0.50 EPS.

TriMas Price Performance

TRS opened at $25.45 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.82 and a quick ratio of 1.48. TriMas has a 1 year low of $22.45 and a 1 year high of $27.89. The stock’s 50 day simple moving average is $24.68 and its 200 day simple moving average is $25.68. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 26.24 and a beta of 0.67.

Institutional Trading of TriMas

Several large investors have recently modified their holdings of TRS. Innealta Capital LLC purchased a new stake in shares of TriMas in the 2nd quarter worth about $26,000. Quantbot Technologies LP grew its position in shares of TriMas by 5.7% during the first quarter. Quantbot Technologies LP now owns 8,933 shares of the industrial products company’s stock worth $239,000 after purchasing an additional 478 shares in the last quarter. Aristides Capital LLC purchased a new stake in TriMas in the 2nd quarter worth $245,000. Algert Global LLC raised its holdings in shares of TriMas by 4.2% during the 2nd quarter. Algert Global LLC now owns 15,779 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 639 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in TriMas by 17.4% during the third quarter. Inspire Investing LLC now owns 16,155 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 2,389 shares during the last quarter. 99.42% of the stock is owned by institutional investors.

TriMas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.63%. TriMas’s dividend payout ratio is currently 16.49%.

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.