TriMas Co. (NASDAQ:TRS – Get Rating) – Equities researchers at William Blair cut their Q2 2022 earnings per share estimates for shares of TriMas in a report issued on Thursday, April 28th. William Blair analyst N. Heymann now expects that the industrial products company will earn $0.60 per share for the quarter, down from their prior estimate of $0.65. William Blair also issued estimates for TriMas’ FY2022 earnings at $2.29 EPS and FY2023 earnings at $2.85 EPS.
TRS has been the topic of a number of other reports. StockNews.com upgraded TriMas from a “hold” rating to a “buy” rating in a research report on Monday, April 11th. TheStreet cut TriMas from a “b” rating to a “c+” rating in a research report on Monday, April 4th.
TriMas (NASDAQ:TRS – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The industrial products company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $224.30 million for the quarter, compared to the consensus estimate of $233.68 million. TriMas had a return on equity of 13.15% and a net margin of 6.68%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 12th. Stockholders of record on Thursday, May 5th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, May 4th. TriMas’s dividend payout ratio (DPR) is presently 11.85%.
In related news, Chairman Samuel Valenti III sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $31.59, for a total value of $94,770.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Teresa Finley purchased 3,236 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was bought at an average cost of $30.89 per share, for a total transaction of $99,960.04. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRS. Keybank National Association OH raised its position in shares of TriMas by 8.3% during the 3rd quarter. Keybank National Association OH now owns 24,980 shares of the industrial products company’s stock valued at $808,000 after buying an additional 1,910 shares during the period. Riverwater Partners LLC purchased a new stake in shares of TriMas during the 4th quarter worth $304,000. IndexIQ Advisors LLC lifted its position in TriMas by 11.1% in the third quarter. IndexIQ Advisors LLC now owns 14,828 shares of the industrial products company’s stock valued at $480,000 after acquiring an additional 1,485 shares during the last quarter. Wilen Investment Management CORP. purchased a new stake in TriMas in the third quarter valued at $177,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of TriMas by 31.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 36,252 shares of the industrial products company’s stock valued at $1,173,000 after buying an additional 8,689 shares during the last quarter.
About TriMas (Get Rating)
TriMas Corporation designs, develops, manufactures, and sells products for consumer products, aerospace, and industrial markets worldwide. It operates through three segments: Packaging, Aerospace, and Specialty Products. 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, flexible spouts, and agricultural closures; polymeric jar products; integrated dispensers; bag-in-box products; aseptic closures; industrial closures and flex spouts; custom injection molded components and devices; various injection molded products; and single-bodied and assembled caps and closures under the Rieke, Taplast, Affaba & Ferrari, Stolz, Omega, and Rapak brands.
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