Short Interest in TriMas Corp (NASDAQ:TRS) Increases By 73.9%

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TriMas Corp (NASDAQ:TRS) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totalling 354,300 shares, a growth of 73.9% from the February 27th total of 203,700 shares. Based on an average trading volume of 278,100 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.8% of the company’s stock are sold short.

TriMas stock opened at $23.95 on Friday. The stock has a 50-day moving average of $25.89 and a two-hundred day moving average of $29.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.52 and a current ratio of 3.62. TriMas has a one year low of $19.99 and a one year high of $33.45. The stock has a market cap of $1.01 billion, a PE ratio of 11.04 and a beta of 1.27.

TriMas (NASDAQ:TRS) last issued its quarterly earnings results on Thursday, February 27th. The industrial products company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). TriMas had a return on equity of 11.77% and a net margin of 11.36%. The business had revenue of $170.90 million for the quarter, compared to analysts’ expectations of $226.05 million. During the same quarter in the previous year, the firm posted $0.38 EPS. TriMas’s revenue was down 19.2% on a year-over-year basis. As a group, sell-side analysts predict that TriMas will post 1.57 EPS for the current fiscal year.

Several equities research analysts have weighed in on TRS shares. BidaskClub upgraded shares of TriMas from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. TheStreet downgraded TriMas from a “b” rating to a “c+” rating in a research report on Thursday, February 27th.

In other news, Director Daniel P. Tredwell bought 5,000 shares of TriMas stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $22.06 per share, for a total transaction of $110,300.00. Following the completion of the acquisition, the director now owns 31,952 shares of the company’s stock, valued at approximately $704,861.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC acquired a new position in TriMas during the 4th quarter valued at approximately $35,000. Nisa Investment Advisors LLC lifted its stake in shares of TriMas by 17.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,670 shares of the industrial products company’s stock worth $84,000 after buying an additional 400 shares during the period. Great West Life Assurance Co. Can purchased a new stake in shares of TriMas during the fourth quarter valued at $95,000. Russell Investments Group Ltd. purchased a new stake in shares of TriMas during the third quarter valued at $129,000. Finally, Bank of Montreal Can grew its holdings in shares of TriMas by 18.5% during the fourth quarter. Bank of Montreal Can now owns 5,662 shares of the industrial products company’s stock valued at $178,000 after buying an additional 882 shares during the last quarter. Institutional investors own 99.77% of the company’s stock.

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.

Further Reading: Basic Economics

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