Q3 2024 Earnings Forecast for TriMas Co. Issued By Zacks Research (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) – Equities research analysts at Zacks Research boosted their Q3 2024 EPS estimates for TriMas in a research report issued to clients and investors on Tuesday, April 23rd. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings of $0.59 per share for the quarter, up from their prior estimate of $0.58. The consensus estimate for TriMas’ current full-year earnings is $1.91 per share.

TriMas Trading Down 1.3 %

Shares of TriMas stock opened at $25.93 on Thursday. The firm has a 50-day moving average of $25.50 and a 200-day moving average of $25.03. The stock has a market cap of $1.06 billion, a PE ratio of 26.73 and a beta of 0.71. TriMas has a 52-week low of $22.59 and a 52-week high of $29.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.29 and a current ratio of 2.49.

TriMas (NASDAQ:TRS) last announced its earnings results on Thursday, February 29th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). The business had revenue of $209.60 million during the quarter, compared to the consensus estimate of $246.44 million. TriMas had a net margin of 4.52% and a return on equity of 8.85%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.62%. TriMas’s payout ratio is presently 16.49%.

Insider Buying and Selling

In other news, CEO Thomas A. Amato acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average price of $23.62 per share, with a total value of $236,200.00. Following the completion of the transaction, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at approximately $6,759,288.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TriMas

Several institutional investors and hedge funds have recently bought and sold shares of the company. Redmond Asset Management LLC lifted its holdings in shares of TriMas by 157.8% in the third quarter. Redmond Asset Management LLC now owns 67,042 shares of the industrial products company’s stock worth $1,660,000 after acquiring an additional 41,036 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TriMas by 31.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,089 shares of the industrial products company’s stock valued at $225,000 after buying an additional 2,173 shares during the period. Inspire Investing LLC acquired a new position in shares of TriMas in the third quarter valued at approximately $308,000. Versor Investments LP acquired a new position in shares of TriMas in the third quarter valued at approximately $414,000. Finally, Merit Financial Group LLC acquired a new position in shares of TriMas in the third quarter valued at approximately $909,000. 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.