Zacks Research Weighs in on TriMas Co.'s Q2 2023 Earnings (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS - Free Report) - Analysts at Zacks Research decreased their Q2 2023 earnings per share estimates for TriMas in a research report issued on Tuesday, July 4th. Zacks Research analyst M. Das now expects that the industrial products company will earn $0.50 per share for the quarter, down from their prior forecast of $0.54. The consensus estimate for TriMas' current full-year earnings is $2.07 per share. Zacks Research also issued estimates for TriMas' Q3 2023 earnings at $0.56 EPS, Q4 2023 earnings at $0.71 EPS, Q4 2024 earnings at $0.74 EPS and Q1 2025 earnings at $0.52 EPS.

A number of other equities analysts also recently commented on TRS. StockNews.com initiated coverage on TriMas in a research report on Thursday, May 18th. They set a "hold" rating for the company. TheStreet cut shares of TriMas from a "b" rating to a "c" rating in a report on Monday, May 1st. Finally, BWS Financial started coverage on shares of TriMas in a report on Monday, May 22nd. They issued a "buy" rating and a $40.00 price objective on the stock.

TRS opened at $27.25 on Friday. The business has a fifty day moving average price of $26.35 and a 200 day moving average price of $27.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.63 and a quick ratio of 1.48. TriMas has a 12 month low of $21.41 and a 12 month high of $31.89. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 20.04 and a beta of 0.73.

TriMas (NASDAQ:TRS - Free Report) last issued its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. TriMas had a net margin of 6.50% and a return on equity of 10.49%. The company had revenue of $215.50 million during the quarter, compared to analysts' expectations of $208.00 million. During the same quarter last year, the company posted $0.50 EPS. The firm's revenue was down 3.9% compared to the same quarter last year.

Several large investors have recently modified their holdings of TRS. Ameriprise Financial Inc. lifted its position in TriMas by 33.4% in the first quarter. Ameriprise Financial Inc. now owns 35,171 shares of the industrial products company's stock valued at $980,000 after purchasing an additional 8,800 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TriMas by 24.1% in the 1st quarter. JPMorgan Chase & Co. now owns 57,135 shares of the industrial products company's stock valued at $1,592,000 after buying an additional 11,090 shares during the period. Susquehanna International Group LLP acquired a new position in TriMas during the first quarter worth $1,014,000. State Street Corp increased its holdings in shares of TriMas by 1.6% in the 1st quarter. State Street Corp now owns 912,195 shares of the industrial products company's stock valued at $25,414,000 after purchasing an additional 14,375 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in TriMas by 1.0% in the first quarter. First Trust Advisors LP now owns 77,656 shares of the industrial products company's stock valued at $2,163,000 after buying an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 99.86% of the company's stock.

In other TriMas news, CFO Scott A. Mell sold 1,150 shares of the firm's stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $25.41, for a total transaction of $29,221.50. Following the sale, the chief financial officer now owns 28,518 shares of the company's stock, valued at $724,642.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other TriMas news, Director Jeffrey A. Fielkow purchased 1,000 shares of the firm's stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average price of $25.26 per share, for a total transaction of $25,260.00. Following the purchase, the director now directly owns 4,445 shares in the company, valued at $112,280.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott A. Mell sold 1,150 shares of TriMas stock in a transaction on Friday, May 12th. The shares were sold at an average price of $25.41, for a total transaction of $29,221.50. Following the completion of the transaction, the chief financial officer now owns 28,518 shares in the company, valued at $724,642.38. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 11th. Stockholders of record on Thursday, May 4th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, May 3rd. TriMas's dividend payout ratio (DPR) is presently 11.76%.

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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