Short Interest in TriMas Co. (NASDAQ:TRS) Rises By 51.9%

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

Insider Activity

In other TriMas news, CEO Thomas A. Amato purchased 10,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were bought at an average price of $23.62 per share, with a total value of $236,200.00. Following the completion of the acquisition, the chief executive officer now owns 286,168 shares in the company, valued at approximately $6,759,288.16. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On TriMas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in TriMas during the 4th quarter worth approximately $205,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TriMas by 31.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,089 shares of the industrial products company’s stock valued at $225,000 after buying an additional 2,173 shares during the period. Inspire Investing LLC acquired a new stake in shares of TriMas during the 3rd quarter valued at $308,000. Handelsbanken Fonder AB boosted its stake in shares of TriMas by 19.8% during the 4th quarter. Handelsbanken Fonder AB now owns 15,095 shares of the industrial products company’s stock valued at $382,000 after buying an additional 2,500 shares during the period. Finally, Summit Trail Advisors LLC boosted its stake in shares of TriMas by 5.0% during the 4th quarter. Summit Trail Advisors LLC now owns 15,158 shares of the industrial products company’s stock valued at $384,000 after buying an additional 716 shares during the period. 99.42% of the stock is currently owned by hedge funds and other institutional investors.

TriMas Price Performance

NASDAQ TRS opened at $26.48 on Monday. TriMas has a 12 month low of $22.59 and a 12 month high of $29.07. 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 firm has a market capitalization of $1.08 billion, a PE ratio of 27.30 and a beta of 0.71. The company’s 50 day simple moving average is $25.53 and its 200 day simple moving average is $25.05.

TriMas (NASDAQ:TRS) last posted its quarterly 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 analyst estimates of $246.44 million. TriMas had a return on equity of 8.85% and a net margin of 4.52%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. As a group, equities research analysts forecast that TriMas will post 1.91 EPS for the current fiscal 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. This represents a $0.16 annualized dividend and a yield of 0.60%. The ex-dividend date is Monday, May 6th. TriMas’s payout ratio 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.