TriMas Co. (NASDAQ:TRS) Sees Significant Increase in Short Interest

TriMas Co. (NASDAQ:TRS) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 378,000 shares, a growth of 51.9% from the March 31st total of 248,800 shares. Based on an average trading volume of 249,200 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.9% of the shares of the company are short sold.

TriMas Stock Up 2.1 %

NASDAQ:TRS opened at $26.48 on Friday. The firm has a market capitalization of $1.08 billion, a P/E ratio of 27.30 and a beta of 0.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.49 and a quick ratio of 1.29. The company’s fifty day moving average price is $25.53 and its 200-day moving average price is $25.05. TriMas has a 1-year low of $22.59 and a 1-year high of $29.07.

TriMas (NASDAQ:TRS) last released its quarterly earnings results on Thursday, February 29th. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17). The firm had revenue of $209.60 million for the quarter, compared to analyst estimates of $246.44 million. TriMas had a net margin of 4.52% and a return on equity of 8.85%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, equities research analysts anticipate that TriMas will post 1.91 EPS for the current year.

TriMas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.16 annualized dividend and a yield of 0.60%. TriMas’s dividend payout ratio is presently 16.49%.

Insider Transactions at TriMas

In other TriMas news, CEO Thomas A. Amato acquired 10,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the purchase, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Trading of TriMas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in TriMas during the fourth quarter valued at $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in TriMas by 31.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,089 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 2,173 shares in the last quarter. Inspire Investing LLC purchased a new position in TriMas during the third quarter valued at $308,000. Handelsbanken Fonder AB lifted its holdings in TriMas by 19.8% during the fourth quarter. Handelsbanken Fonder AB now owns 15,095 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its holdings in TriMas by 5.0% during the fourth quarter. Summit Trail Advisors LLC now owns 15,158 shares of the industrial products company’s stock valued at $384,000 after purchasing an additional 716 shares in the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.

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.