TriMas (NASDAQ:TRS) Posts Earnings Results, Misses Expectations By $0.14 EPS

TriMas (NASDAQ:TRS - Get Free Report) posted its quarterly earnings data on Monday. The industrial products company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.14), Briefing.com reports. TriMas had a return on equity of 9.61% and a net margin of 4.44%. The company had revenue of $229.36 million for the quarter, compared to analysts' expectations of $239.33 million. During the same period in the previous year, the business posted $0.57 EPS. The business's revenue for the quarter was down 2.5% on a year-over-year basis. TriMas updated its FY24 guidance to $1.70-1.90 EPS and its FY 2024 guidance to 1.700-1.900 EPS.

TriMas Stock Up 5.4 %

TRS traded up $1.35 on Tuesday, hitting $26.18. 503,782 shares of the company were exchanged, compared to its average volume of 266,373. The company has a current ratio of 2.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 40.41 and a beta of 0.66. The firm has a 50-day moving average price of $25.83 and a two-hundred day moving average price of $25.82. TriMas has a twelve month low of $22.45 and a twelve month high of $28.51.

TriMas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.61%. TriMas's dividend payout ratio (DPR) is presently 25.00%.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a "buy" rating and set a $40.00 target price on shares of TriMas in a report on Tuesday.

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.