TriMas (NASDAQ:TRS) Releases Fiscal 2022 Earnings Guidance
TriMas (NASDAQ:TRS – Get Rating) released an update to its fiscal 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2,250 to $2,350 for the period. , compared to Thomson Reuters consensus estimate of $2,530. The company released a revenue forecast of $925.68 million to $951.39 million, compared to the consensus revenue estimate of $882.41 million.
Shares of NASDAQ:TRS opened at $33.10 on Tuesday. The company has a 50-day moving average price of $33.22. The company has a market capitalization of $1.42 billion, a PE ratio of 25.08 and a beta of 0.74. TriMas has a fifty-two week low of $27.86 and a fifty-two week high of $38.72. The company has a current ratio of 2.79, a quick ratio of 1.80 and a debt ratio of 0.62.
TriMas (NASDAQ:TRS – Get Rating) last released its results on Tuesday, March 1. The industrial products company reported earnings per share of $0.56 for the quarter, beating Thomson Reuters consensus estimate of $0.53 by $0.03. The company posted revenue of $208.97 million for the quarter, compared to $209.49 million expected by analysts. TriMas had a net margin of 6.69% and a return on equity of 13.22%. The company’s revenue increased by 11.1% compared to the same quarter last year. In the same quarter last year, the company earned earnings per share of $0.38. On average, research analysts predict that TriMas will post an EPS of 2.31 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 11. Shareholders of record on Friday, March 4 received a dividend of $0.04 per share. The ex-dividend date was Thursday, March 3. This represents a dividend of $0.16 on an annualized basis and a yield of 0.48%. TriMas’ payout ratio is currently 12.12%.
Separately, Zacks Investment Research upgraded TriMas shares from a sell rating to a hold rating and set a price target of $39.00 on the stock in a Friday, Dec. 31 research report.
In other news, Chairman Samuel Valenti III sold 3,000 shares of TriMas in a trade on Wednesday March 2. The stock was sold at an average price of $31.59, for a total transaction of $94,770.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, director Teresa Finley purchased 3,236 shares of the company in a trade dated Wednesday, March 2. The shares were purchased at an average cost of $30.89 per share, with a total value of $99,960.04. Disclosure of this purchase can be found here. 0.80% of the shares are currently held by insiders of the company.
Hedge funds have recently changed their positions in the stock. Parametric Portfolio Associates LLC increased its holdings in TriMas by 0.9% in the fourth quarter. Parametric Portfolio Associates LLC now owns 75,527 shares of the industrial products company valued at $2,795,000 after purchasing an additional 676 shares during the period. Invesco Ltd. increased its holdings of TriMas shares by 1.4% during the 4th quarter. Invesco Ltd. now owns 69,040 shares of the industrial products company worth $2,555,000 after purchasing an additional 964 shares during the period. Deutsche Bank AG increased its holdings of TriMas shares by 4.1% during the fourth quarter. Deutsche Bank AG now owns 28,794 shares of the industrial products company worth $1,065,000 after buying 1,147 additional shares during the period. California State Teachers Retirement System increased its holdings of TriMas shares by 2.1% during the 4th quarter. California State Teachers Retirement System now owns 59,982 shares of the industrial products company worth $2,219,000 after purchasing an additional 1,232 shares during the period. Finally, LPL Financial LLC increased its equity stake in TriMas by 13.6% during the third quarter. LPL Financial LLC now owns 10,295 shares of the industrial products company worth $337,000 after purchasing an additional 1,233 shares during the period.
About Trimas (Get a rating)
TriMas Corp. is dedicated to manufacturing industrial products for customers in the consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets. It operates through the following segments: Packaging, Aerospace and Specialty Products. The Packaging segment designs and manufactures dispensing products, including foaming pumps, hand lotion and soap pumps, sanitizer pumps, beverage dispensers, perfume sprayers, nasal sprayers and trigger sprayers , polymer and steel caps and closures, including food lids, flap closures, childproof caps, drum and pail closures, flexible pour spouts, polymer jars and fully integrated dispensers for ready-to-fill bag-in-box applications, all for a variety of consumer product markets, including but not limited to beauty and personal care, home care, food and beverages, pharmaceuticals and nutraceuticals, as well as the industrial market.
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