TriMas Reports Quarterly Earnings Results

TriMas (NASDAQ:TRS) announced its quarterly earnings results on Monday. The industrial products company reported earnings per share (EPS) of $0.43 for the quarter, which was below the consensus estimate of $0.57 by $0.14, according to Briefing.com. Additionally, the company reported revenues of $229.36 million for the quarter, falling short of analyst expectations that forecasted revenues of $239.33 million.

TriMas recorded a net margin of 4.44% and achieved a return on equity of 9.61%. Comparing to the same quarter last year, TriMas experienced a revenue decline of 2.5%. In the same period last year, the company had reported earnings of $0.57 per share.

Performance of TriMas Stock

On Tuesday, shares of NASDAQ:TRS opened at $24.87. The company has a market capitalization of $1.01 billion, with a price-to-earnings (P/E) ratio of 25.38. Over the last twelve months, TriMas has traded between a low of $22.45 and a high of $28.51. Its fifty-day moving average is $25.83, while its two-hundred-day moving average stands at $25.82. The company's liquidity ratios include a quick ratio of 1.48 and a current ratio of 2.82, coupled with a debt-to-equity ratio of 0.63.

Dividend Announcement

TriMas also announced a quarterly dividend which is planned to be paid on Tuesday, November 12th. Shareholders of record as of Tuesday, November 5th will receive a dividend of $0.04, which translates to an annualized dividend of $0.16 and a yield of 0.64%. The ex-dividend date for this payment is also set for November 5th. The company maintains a dividend payout ratio of 16.33%.

Analyst Ratings on TriMas Stock

In separate news, BWS Financial reaffirmed its "buy" rating on TriMas shares and set a price target of $40.00 in a recent research note dated October 9th.

Company Overview

TriMas Corporation focuses on the design, development, manufacture, and sale of products across consumer goods, aerospace, and industrial markets globally. The company's operations are divided into three segments: Packaging, Aerospace, and Specialty Products. The Packaging segment provides a wide range of dispensing products, including foaming pumps, sanitizer pumps, and various caps and closures for food and beverages, among others.

Earnings, Finance, Stocks