TriMas Co. (NASDAQ:TRS) Announces Quarterly Dividend of $0.04

TriMas Co. (NASDAQ:TRS - Get Free Report) declared a quarterly dividend on Monday, April 21st, RTT News reports. Stockholders of record on Tuesday, May 6th will be given a dividend of 0.04 per share by the industrial products company on Tuesday, May 13th. This represents a $0.16 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, May 6th.

TriMas has increased its dividend payment by an average of 58.7% annually over the last three years. TriMas has a payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect TriMas to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 7.8%.

TriMas Trading Down 0.3 %

TRS stock traded down $0.06 during mid-day trading on Friday, reaching $21.33. The company's stock had a trading volume of 712,885 shares, compared to its average volume of 311,381. TriMas has a 12 month low of $19.33 and a 12 month high of $28.51. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60. The business's 50 day moving average price is $22.39 and its 200 day moving average price is $24.40. The company has a market cap of $868.47 million, a price-to-earnings ratio of 33.33 and a beta of 0.55.

Insider Activity

In other TriMas news, Director Jeffrey A. Fielkow purchased 2,500 shares of the firm's stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $20.78 per share, for a total transaction of $51,950.00. Following the purchase, the director now owns 11,013 shares of the company's stock, valued at $228,850.14. This trade represents a 29.37 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Scott A. Mell sold 2,218 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.54, for a total transaction of $49,993.72. Following the transaction, the chief financial officer now owns 26,288 shares in the company, valued at approximately $592,531.52. The trade was a 7.78 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 806,246 shares of company stock worth $19,338,213 in the last three months. Company insiders own 14.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a "buy" rating and set a $40.00 target price on shares of TriMas in a research report on Friday, February 28th.

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.