TriMas Co. (NASDAQ:TRS) Announces Quarterly Dividend of $0.04

TriMas Co. (NASDAQ:TRS) declared a quarterly dividend on Tuesday, April 22nd, RTT News reports. Investors of record on Tuesday, May 6th will be given a dividend of 0.04 per share by the industrial products company on Tuesday, May 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.79%.

TriMas has raised its dividend payment by an average of 58.7% annually over the last three years. TriMas has a payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect TriMas to earn $2.04 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 7.8%.

TriMas Stock Down 0.2 %

Shares of NASDAQ TRS traded down $0.04 during mid-day trading on Tuesday, reaching $20.20. The company had a trading volume of 15,061 shares, compared to its average volume of 304,312. TriMas has a 52-week low of $19.33 and a 52-week high of $28.51. The stock has a market cap of $822.54 million, a P/E ratio of 31.40 and a beta of 0.55. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60. The firm has a 50 day simple moving average of $22.61 and a two-hundred day simple moving average of $24.50.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a “buy” rating and issued a $40.00 target price on shares of TriMas in a report on Friday, February 28th.

Insider Buying and Selling

In other news, CFO Scott A. Mell sold 2,218 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $22.54, for a total transaction of $49,993.72. Following the transaction, the chief financial officer now directly owns 26,288 shares of the company’s stock, valued at approximately $592,531.52. The trade was a 7.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shawn Sedaghat bought 554,149 shares of TriMas stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $24.07 per share, with a total value of $13,338,366.43. Following the completion of the purchase, the director now owns 900,974 shares in the company, valued at approximately $21,686,444.18. The trade was a 159.78 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 806,246 shares of company stock worth $19,338,213. 14.20% of the stock is owned by corporate insiders.

TriMas Company Profile

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.