Q2 2024 EPS Estimates for TriMas Co. Boosted by Analyst (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) – Zacks Research increased their Q2 2024 EPS estimates for shares of TriMas in a note issued to investors on Thursday, June 13th. Zacks Research analyst M. Das now expects that the industrial products company will earn $0.53 per share for the quarter, up from their prior estimate of $0.49. The consensus estimate for TriMas’ current full-year earnings is $2.03 per share. Zacks Research also issued estimates for TriMas’ Q3 2024 earnings at $0.63 EPS and FY2024 earnings at $2.03 EPS.

TriMas (NASDAQ:TRS) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $227.10 million for the quarter, compared to analysts’ expectations of $220.60 million. TriMas had a net margin of 4.48% and a return on equity of 9.68%. TriMas’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS.

Separately, BWS Financial reissued a “buy” rating and issued a $40.00 price target on shares of TriMas in a report on Wednesday, May 1st.

TriMas Stock Down 2.4 %

Shares of TRS stock opened at $25.40 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.73. The firm’s 50-day moving average is $26.39 and its 200-day moving average is $25.68. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 26.19 and a beta of 0.70. TriMas has a 52-week low of $22.59 and a 52-week high of $28.93.

Institutional Trading of TriMas

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in TriMas in the fourth quarter valued at approximately $205,000. Quantbot Technologies LP raised its stake 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 valued at $239,000 after acquiring an additional 478 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of TriMas by 19.8% during the fourth 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. Summit Trail Advisors LLC raised its stake in shares of TriMas by 5.0% during the fourth 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. Finally, Teacher Retirement System of Texas bought a new position in shares of TriMas during the fourth quarter valued at $396,000. Institutional investors and hedge funds own 99.42% of the company’s stock.

Insider Transactions at TriMas

In other news, Director Herbert K. Parker purchased 1,000 shares of TriMas stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Herbert K. Parker bought 1,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $26.34 per share, for a total transaction of $39,510.00. Following the completion of the transaction, the director now directly owns 33,057 shares of the company’s stock, valued at approximately $870,721.38. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Herbert K. Parker bought 1,000 shares of the business’s 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 directly owns 30,057 shares of the company’s stock, valued at $780,880.86. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 14,681 shares of company stock valued at $387,053. 1.10% of the stock is currently owned by company insiders.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.63%. TriMas’s dividend payout ratio is presently 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.