TriMas Corporation (NASDAQ:TRS) to Issue $0.04 Quarterly Dividend

TriMas Corporation (NASDAQ:TRS) declared a quarterly dividend on Thursday, April 23rd. Stockholders of record on Thursday, May 7th will be paid a dividend of 0.04 per share by the industrial products company on Thursday, May 14th. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, May 7th.

TriMas has a dividend payout ratio of 7.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect TriMas to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 7.7%.

TriMas Stock Up 0.1%

Shares of NASDAQ:TRS traded up $0.02 on Thursday, reaching $36.20. The company had a trading volume of 402,362 shares, compared to its average volume of 465,138. TriMas has a 52-week low of $20.58 and a 52-week high of $42.00. The firm’s 50 day simple moving average is $36.82 and its 200-day simple moving average is $35.55. The firm has a market capitalization of $1.33 billion, a PE ratio of 12.19 and a beta of 0.61. The company has a current ratio of 2.52, a quick ratio of 1.93 and a debt-to-equity ratio of 0.66.

TriMas (NASDAQ:TRS) last announced its earnings results on Thursday, February 26th. The industrial products company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). The business had revenue of ($139.97) million for the quarter, compared to analysts’ expectations of $192.96 million. TriMas had a return on equity of 12.04% and a net margin of 11.53%.The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. As a group, analysts expect that TriMas will post 1.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TRS shares. KeyCorp reiterated an “overweight” rating and set a $38.00 price target on shares of TriMas in a research note on Thursday, February 26th. Weiss Ratings upgraded TriMas from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. BWS Financial reiterated a “buy” rating and set a $45.00 price target on shares of TriMas in a research note on Monday, March 2nd. Finally, Zacks Research downgraded TriMas from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, TriMas has a consensus rating of “Moderate Buy” and an average price target of $41.50.

TriMas Company Profile

TriMas Corporation is a diversified industrial company headquartered in Bloomfield Hills, Michigan. Established in 1980, TriMas has built a global reputation for designing and manufacturing specialized products that serve a wide array of end markets. The company operates through multiple segments, each focused on high-demand niches where engineered solutions and rigorous quality standards are essential.

The Packaging segment supplies closures, dispensing systems and related components for the personal care, household chemicals, food and beverage, and pharmaceutical markets.