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

TriMas Co. (NASDAQ:TRS) was the target of a significant growth in short interest during 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 volume of 249,200 shares, the days-to-cover ratio is currently 1.5 days.

TriMas Stock Performance

Shares of TRS traded up $0.55 during trading hours on Friday, reaching $26.48. 400,668 shares of the company traded hands, compared to its average volume of 241,603. The stock 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 quick ratio of 1.29, a current ratio of 2.49 and a debt-to-equity ratio of 0.58. TriMas has a 12-month low of $22.59 and a 12-month high of $29.07. The business has a fifty day moving average price of $25.53 and a 200-day moving average price of $25.04.

TriMas (NASDAQ:TRS) last announced its quarterly earnings data 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). The company had revenue of $209.60 million for the quarter, compared to analysts’ expectations of $246.44 million. TriMas had a net margin of 4.52% and a return on equity of 8.85%. TriMas’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.62 earnings per share. Equities analysts anticipate that TriMas will post 1.91 EPS for the current fiscal year.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be issued 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 presently 16.49%.

Insiders Place Their Bets

In related news, CEO Thomas A. Amato acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average cost of $23.62 per share, with a total value of $236,200.00. Following the completion of the acquisition, 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 can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On TriMas

A number of large investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. lifted its position in TriMas by 30.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 43,581 shares of the industrial products company’s stock valued at $1,079,000 after purchasing an additional 10,098 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of TriMas by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 517,025 shares of the industrial products company’s stock worth $12,802,000 after purchasing an additional 21,767 shares during the last quarter. Vanguard Group Inc. raised its position in shares of TriMas by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,215,033 shares of the industrial products company’s stock worth $104,364,000 after purchasing an additional 34,517 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of TriMas by 16.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock worth $77,757,000 after purchasing an additional 422,717 shares during the last quarter. Finally, Redmond Asset Management LLC raised its position in shares of TriMas by 157.8% during the 3rd quarter. Redmond Asset Management LLC now owns 67,042 shares of the industrial products company’s stock worth $1,660,000 after purchasing an additional 41,036 shares during the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.

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.