Short Interest in TriMas Corp (NASDAQ:TRS) Grows By 9.5%

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TriMas Corp (NASDAQ:TRS) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 365,500 shares, an increase of 9.5% from the June 30th total of 333,800 shares. Based on an average daily volume of 149,800 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.8% of the shares of the company are short sold.

Separately, BidaskClub lowered TriMas from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.50.

TRS traded up $0.25 during trading on Thursday, reaching $28.93. The company’s stock had a trading volume of 101,332 shares, compared to its average volume of 149,977. TriMas has a 52-week low of $25.18 and a 52-week high of $33.45. The company’s fifty day moving average price is $30.36 and its 200-day moving average price is $30.59. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 3.05 and a beta of 1.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.78.

TriMas (NASDAQ:TRS) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.50 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.50. TriMas had a return on equity of 13.32% and a net margin of 8.99%. The company had revenue of $239.37 million for the quarter, compared to analyst estimates of $240.57 million. During the same quarter in the previous year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts predict that TriMas will post 1.91 earnings per share for the current year.

In related news, Director Eugene A. Miller sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $30.01, for a total transaction of $300,100.00. Following the transaction, the director now owns 99,425 shares of the company’s stock, valued at $2,983,744.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joshua A. Sherbin sold 21,355 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $30.26, for a total value of $646,202.30. Following the transaction, the insider now directly owns 74,688 shares in the company, valued at approximately $2,260,058.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,383 shares of company stock worth $1,649,389. Corporate insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TRS. Quantamental Technologies LLC boosted its holdings in TriMas by 1,552.0% in the 1st quarter. Quantamental Technologies LLC now owns 1,619 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,521 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of TriMas by 54.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,270 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 800 shares during the period. Bank of Montreal Can acquired a new stake in shares of TriMas during the 2nd quarter valued at approximately $119,000. Toronto Dominion Bank lifted its position in shares of TriMas by 29.0% during the 1st quarter. Toronto Dominion Bank now owns 4,900 shares of the industrial products company’s stock valued at $148,000 after acquiring an additional 1,101 shares during the period. Finally, Zions Bancorporation N.A. acquired a new stake in shares of TriMas during the 1st quarter valued at approximately $196,000. 98.50% of the stock is currently owned by institutional investors.

TriMas Company Profile

TriMas Corporation manufactures and sells products for consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets worldwide. It operates in three segments: Packaging, Aerospace, and Specialty Products. The Packaging segment designs, manufactures, and sells specialty closure products, including steel and plastic drum closures, plastic pail dispensers and plugs, and plastic enclosures; specialty dispensing products, such as foamers, lotion pumps, fine mist sprayers, airless dispensers, and other packaging solutions for the cosmetic, personal care, and household product markets; and specialty plastic closures for bottles and jars in the food and beverage markets under the Rieke name.

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