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

TriMas Co. (NASDAQ:TRS) was the target 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. Approximately 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 249,200 shares, the short-interest ratio is presently 1.5 days.

Insiders Place Their Bets

In other TriMas news, CEO Thomas A. Amato bought 10,000 shares of the stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the acquisition, the chief executive officer now owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in TriMas in the 4th quarter worth $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in TriMas by 31.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,089 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 2,173 shares in the last quarter. Inspire Investing LLC purchased a new stake in TriMas in the 3rd quarter worth $308,000. Handelsbanken Fonder AB lifted its stake in TriMas by 19.8% in the 4th quarter. Handelsbanken Fonder AB now owns 15,095 shares of the industrial products company’s stock worth $382,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its stake in TriMas by 5.0% in the 4th quarter. Summit Trail Advisors LLC now owns 15,158 shares of the industrial products company’s stock worth $384,000 after purchasing an additional 716 shares in the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.

TriMas Price Performance

Shares of TRS opened at $26.48 on Friday. TriMas has a twelve month low of $22.59 and a twelve month high of $29.07. The firm has a 50 day moving average of $25.53 and a 200 day moving average of $25.05. The company has a quick ratio of 1.29, a current ratio of 2.49 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.08 billion, a P/E ratio of 27.30 and a beta of 0.71.

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

TriMas Announces Dividend

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

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.