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

TriMas Co. (NASDAQ:TRS) saw 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 shares of the stock are short sold. Based on an average daily trading volume, of 249,200 shares, the short-interest ratio is currently 1.5 days.

TriMas Trading Up 2.1 %

Shares of TRS traded up $0.55 during trading hours on Friday, hitting $26.48. The company had a trading volume of 400,668 shares, compared to its average volume of 241,603. The firm has a market cap of $1.08 billion, a P/E ratio of 27.30 and a beta of 0.71. The stock’s 50 day moving average price is $25.53 and its 200 day moving average price is $25.04. The company has a quick ratio of 1.29, a current ratio of 2.49 and a debt-to-equity ratio of 0.58. TriMas has a 52-week low of $22.59 and a 52-week high of $29.07.

TriMas (NASDAQ:TRS) last posted its earnings results on Thursday, February 29th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.17). The business had revenue of $209.60 million during the quarter, compared to the consensus estimate of $246.44 million. TriMas had a return on equity of 8.85% and a net margin of 4.52%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. On average, research analysts predict that TriMas will post 1.91 EPS for the current year.

TriMas Dividend Announcement

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

Insider Activity at TriMas

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

Institutional Trading of TriMas

Large investors have recently bought and sold shares of the company. Swiss National Bank boosted its position in shares of TriMas by 0.8% in the 3rd quarter. Swiss National Bank now owns 91,300 shares of the industrial products company’s stock worth $2,261,000 after purchasing an additional 700 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of 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. Sendero Wealth Management LLC boosted its position in shares of TriMas by 8.7% in the 4th quarter. Sendero Wealth Management LLC now owns 16,021 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 1,285 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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. Finally, Handelsbanken Fonder AB boosted its position in shares of 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. 99.42% of the stock is owned by institutional investors.

About TriMas

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.