TriMas (NASDAQ:TRS) Updates FY 2024 Earnings Guidance

TriMas (NASDAQ:TRS - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.950-2.150 for the period, compared to the consensus estimate of 2.000. The company issued revenue guidance of $938.2 million-$965.0 million, compared to the consensus revenue estimate of $950.4 million. TriMas also updated its FY24 guidance to $1.95-2.15 EPS.

TriMas Trading Down 2.8 %

NASDAQ:TRS traded down $0.76 during trading hours on Tuesday, hitting $25.99. 480,013 shares of the stock were exchanged, compared to its average volume of 241,652. The company's 50 day moving average is $25.57 and its two-hundred day moving average is $25.08. The company has a market capitalization of $1.06 billion, a P/E ratio of 26.79 and a beta of 0.71. TriMas has a twelve month low of $22.59 and a twelve month high of $29.07. The company has a quick ratio of 1.29, a current ratio of 2.49 and a debt-to-equity ratio of 0.58.

TriMas (NASDAQ:TRS - Get Free Report) last announced 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 return on equity of 8.85% and a net margin of 4.52%. TriMas's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, sell-side analysts anticipate that TriMas will post 1.91 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The firm 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 dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, May 6th. TriMas's payout ratio is 16.49%.

Insider Transactions at TriMas

In related news, CEO Thomas A. Amato bought 10,000 shares of the business's stock in a transaction on Friday, March 1st. The shares were purchased at an average price 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 of the company's stock, valued at approximately $6,759,288.16. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

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.