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

Key Points

• TriMas Corporation announced a quarterly dividend of $0.04 per share, with an annualized yield of 0.4%, payable on November 13th for shareholders of record on November 6th.
• The company reported earnings of $0.61 per share for the last quarter, exceeding expectations and achieving a revenue increase of 14.2% year-over-year, amounting to $274.76 million.
• Institutional investors hold approximately 99.42% of TriMas' stock, with significant increases in holdings by Comerica Bank and others during recent quarters.

TriMas Corporation (NASDAQ:TRS - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Shareholders of record on Thursday, November 6th will be given a dividend of 0.04 per share by the industrial products company on Thursday, November 13th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, November 6th.

TriMas has a payout ratio of 7.8% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 2.8%

Shares of NASDAQ TRS traded up $1.09 during mid-day trading on Thursday, reaching $39.45. 483,300 shares of the company traded hands, compared to its average volume of 431,485. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 2.59. The stock has a market cap of $1.60 billion, a PE ratio of 43.35 and a beta of 0.62. The company's fifty day moving average is $38.11 and its two-hundred day moving average is $30.90. TriMas has a fifty-two week low of $19.33 and a fifty-two week high of $40.34.

TriMas (NASDAQ:TRS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.50 by $0.11. TriMas had a return on equity of 11.49% and a net margin of 3.83%.The company had revenue of $274.76 million for the quarter, compared to the consensus estimate of $251.18 million. During the same quarter last year, the company posted $0.43 earnings per share. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. On average, analysts expect that TriMas will post 1.69 earnings per share for the current year.

Institutional Investors Weigh In On TriMas

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank increased its holdings in TriMas by 214.5% in the 1st quarter. Comerica Bank now owns 11,119 shares of the industrial products company's stock valued at $261,000 after buying an additional 7,584 shares during the period. Alta Fox Capital Management LLC bought a new stake in TriMas in the 1st quarter valued at $17,385,000. Pzena Investment Management LLC increased its holdings in TriMas by 2.0% in the 2nd quarter. Pzena Investment Management LLC now owns 2,177,761 shares of the industrial products company's stock valued at $62,306,000 after buying an additional 42,207 shares during the period. Ancora Advisors LLC bought a new stake in TriMas in the 1st quarter valued at $351,000. Finally, American Century Companies Inc. increased its holdings in TriMas by 9.1% in the 1st quarter. American Century Companies Inc. now owns 86,017 shares of the industrial products company's stock valued at $2,015,000 after buying an additional 7,141 shares during the period. Institutional investors own 99.42% of the company's stock.

About TriMas

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.

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