TriMas (NASDAQ:TRS) Releases FY 2024 Earnings Guidance

TriMas (NASDAQ:TRSGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.950-2.150 for the period, compared to the consensus EPS estimate of 2.320. The company issued revenue guidance of $938.2 million-$965.0 million, compared to the consensus revenue estimate of $1.1 billion. TriMas also updated its FY24 guidance to $1.95-2.15 EPS.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of TriMas from a buy rating to a hold rating in a research report on Wednesday, December 13th.

Check Out Our Latest Stock Report on TRS

TriMas Price Performance

Shares of NASDAQ TRS traded down $0.02 during trading on Friday, reaching $23.48. The company had a trading volume of 544,993 shares, compared to its average volume of 263,519. TriMas has a 52 week low of $22.59 and a 52 week high of $30.31. The stock has a market cap of $972.31 million, a PE ratio of 24.21 and a beta of 0.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.43 and a current ratio of 2.59. The business’s 50 day moving average price is $24.98 and its 200-day moving average price is $24.87.

TriMas (NASDAQ:TRSGet Free Report) last posted its quarterly earnings results on Thursday, February 29th. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). The business had revenue of $209.60 million for the quarter, compared to the consensus estimate of $246.44 million. TriMas had a return on equity of 8.92% and a net margin of 4.52%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. Analysts expect that TriMas will post 2.05 earnings per share for the current year.

TriMas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, March 1st will be issued a $0.04 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.16 annualized dividend and a yield of 0.68%. TriMas’s dividend payout ratio (DPR) is presently 16.49%.

Institutional Investors Weigh In On TriMas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in TriMas by 7.0% in the first quarter. JPMorgan Chase & Co. now owns 63,155 shares of the industrial products company’s stock valued at $2,027,000 after purchasing an additional 4,132 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of TriMas by 13.1% during the 1st quarter. American Century Companies Inc. now owns 38,994 shares of the industrial products company’s stock worth $1,251,000 after buying an additional 4,519 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of TriMas by 182.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,912 shares of the industrial products company’s stock worth $94,000 after buying an additional 1,880 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of TriMas by 50.8% during the 1st quarter. MetLife Investment Management LLC now owns 23,650 shares of the industrial products company’s stock worth $759,000 after buying an additional 7,964 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in TriMas by 52.4% in the 1st quarter. Panagora Asset Management Inc. now owns 11,269 shares of the industrial products company’s stock worth $362,000 after purchasing an additional 3,876 shares in the last quarter.

TriMas Company Profile

(Get Free Report)

TriMas Corporation engages in the design, development, manufacture, and sale of 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, 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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Earnings History and Estimates for TriMas (NASDAQ:TRS)

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