TriMas Co. (NASDAQ:TRS - Get Free Report) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 192,100 shares, an increase of 22.7% from the February 29th total of 156,600 shares. Based on an average daily volume of 246,500 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.5% of the company's stock are short sold.
Analyst Ratings Changes
Separately, StockNews.com cut TriMas from a "buy" rating to a "hold" rating in a research report on Wednesday, December 13th.
Check Out Our Latest Research Report on TRS
TriMas Stock Performance
Shares of NASDAQ TRS traded up $0.25 during midday trading on Friday, hitting $26.73. 168,505 shares of the stock traded hands, compared to its average volume of 244,344. The firm has a 50-day moving average of $25.07 and a two-hundred day moving average of $24.83. The firm has a market capitalization of $1.10 billion, a P/E ratio of 27.56 and a beta of 0.69. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.29 and a current ratio of 2.49. TriMas has a one year low of $22.59 and a one year high of $29.07.
TriMas (NASDAQ:TRS - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). The firm had revenue of $209.60 million for the quarter, compared to the consensus estimate 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 in the previous year, the company earned $0.62 earnings per share. On average, equities analysts forecast that TriMas will post 1.94 EPS for the current fiscal year.
TriMas Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, March 1st were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.60%. TriMas's payout ratio is 16.49%.
Insider Transactions at TriMas
In other TriMas news, CEO Thomas A. Amato acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $23.62 per share, with a total value of $236,200.00. Following the transaction, the chief executive officer now owns 286,168 shares of the company's stock, valued at approximately $6,759,288.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company's stock.
Hedge Funds Weigh In On TriMas
Several hedge funds and other institutional investors have recently modified their holdings of TRS. Quarry LP purchased a new stake in shares of TriMas in the 4th quarter worth $30,000. Tower Research Capital LLC TRC increased its stake in shares of TriMas by 90.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,144 shares of the industrial products company's stock worth $32,000 after purchasing an additional 544 shares in the last quarter. UBS Group AG increased its stake in shares of TriMas by 80.9% in the 3rd quarter. UBS Group AG now owns 3,614 shares of the industrial products company's stock worth $91,000 after purchasing an additional 1,616 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of TriMas by 182.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,912 shares of the industrial products company's stock worth $94,000 after purchasing an additional 1,880 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of TriMas in the 4th quarter worth $134,000. 99.42% of the stock is owned by institutional investors.
About TriMas
(
Get Free Report)
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.
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