TriMas Co. (NASDAQ:TRS) to Post FY2024 Earnings of $1.70 Per Share, BWS Financial Forecasts

TriMas Co. (NASDAQ:TRS) – Equities research analysts at BWS Financial decreased their FY2024 earnings per share estimates for TriMas in a research report issued to clients and investors on Wednesday, October 9th. BWS Financial analyst H. Khorsand now expects that the industrial products company will post earnings of $1.70 per share for the year, down from their prior estimate of $1.72. BWS Financial currently has a “Buy” rating and a $40.00 price target on the stock. The consensus estimate for TriMas’ current full-year earnings is $1.76 per share. BWS Financial also issued estimates for TriMas’ Q4 2024 earnings at $0.35 EPS and Q3 2025 earnings at $0.56 EPS.

TriMas Stock Up 1.0 %

Shares of TRS opened at $25.45 on Thursday. The stock’s 50-day moving average price is $24.68 and its 200-day moving average price is $25.68. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 26.24 and a beta of 0.67. TriMas has a 52 week low of $22.45 and a 52 week high of $27.89. The company has a quick ratio of 1.48, a current ratio of 2.82 and a debt-to-equity ratio of 0.63.

TriMas (NASDAQ:TRS) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.10). The business had revenue of $240.50 million for the quarter, compared to analyst estimates of $238.63 million. TriMas had a net margin of 4.44% and a return on equity of 9.61%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share.

Hedge Funds Weigh In On TriMas

Hedge funds have recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in shares of TriMas in the second quarter valued at approximately $26,000. Quantbot Technologies LP increased its holdings in TriMas by 5.7% in the 1st quarter. Quantbot Technologies LP now owns 8,933 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 478 shares in the last quarter. Aristides Capital LLC acquired a new position in TriMas during the second quarter worth $245,000. Algert Global LLC lifted its holdings in TriMas by 4.2% during the second quarter. Algert Global LLC now owns 15,779 shares of the industrial products company’s stock valued at $403,000 after purchasing an additional 639 shares in the last quarter. Finally, Inspire Investing LLC grew its position in shares of TriMas by 17.4% in the third quarter. Inspire Investing LLC now owns 16,155 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 2,389 shares during the period. Hedge funds and other institutional investors own 99.42% of the company’s stock.

TriMas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were paid a $0.04 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.63%. TriMas’s dividend payout ratio is presently 16.49%.

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.