TriMas Corporation (NASDAQ:TRS) Declares $0.04 Quarterly Dividend

TriMas Corporation (NASDAQ:TRS - Get Free Report) declared a quarterly dividend on Tuesday, July 22nd, Wall Street Journal reports. Investors of record on Tuesday, August 5th will be paid a dividend of 0.04 per share by the industrial products company on Tuesday, August 12th. This represents a $0.16 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Tuesday, August 5th.

TriMas has a dividend 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 Performance

TriMas stock traded up $0.09 during trading on Friday, reaching $31.62. The company had a trading volume of 106,879 shares, compared to its average volume of 398,797. TriMas has a 52 week low of $19.33 and a 52 week high of $31.77. The firm's 50-day simple moving average is $27.93 and its 200 day simple moving average is $24.82. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 41.07 and a beta of 0.63. The company has a current ratio of 2.82, a quick ratio of 1.49 and a debt-to-equity ratio of 0.63.

TriMas (NASDAQ:TRS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The business had revenue of $241.67 million for the quarter, compared to analysts' expectations of $235.41 million. TriMas had a return on equity of 10.54% and a net margin of 3.36%. The business's quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Sell-side analysts forecast that TriMas will post 1.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BWS Financial reissued a "buy" rating and set a $40.00 price target on shares of TriMas in a report on Wednesday, April 30th. Wall Street Zen raised TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st.

Insider Activity

In other TriMas news, Director Adrianne Shapira bought 4,000 shares of the company's stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $25.82 per share, for a total transaction of $103,280.00. Following the completion of the transaction, the director directly owned 8,476 shares of the company's stock, valued at approximately $218,850.32. This represents a 89.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shawn Sedaghat bought 410,172 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were acquired at an average price of $25.43 per share, with a total value of $10,430,673.96. Following the transaction, the director directly owned 1,810,821 shares of the company's stock, valued at approximately $46,049,178.03. This trade represents a 29.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 971,649 shares of company stock valued at $24,585,343. 14.20% of the stock is currently owned by company insiders.

Institutional Trading of TriMas

An institutional investor recently raised its position in TriMas stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in TriMas Corporation (NASDAQ:TRS - Free Report) by 4.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,120 shares of the industrial products company's stock after buying an additional 1,014 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of TriMas worth $565,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 99.42% of the company's stock.

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.