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

TriMas Co. (NASDAQ:TRS - Get Free Report) was the target of a significant increase in short interest in 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. Currently, 0.9% of the company's stock are sold short. Based on an average daily trading volume, of 249,200 shares, the days-to-cover ratio is presently 1.5 days.

TriMas Stock Up 2.1 %

TRS traded up $0.55 on Friday, reaching $26.48. The company's stock had a trading volume of 400,668 shares, compared to its average volume of 241,603. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 27.30 and a beta of 0.71. TriMas has a 1 year low of $22.59 and a 1 year 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 business's 50 day moving average is $25.53 and its 200 day moving average is $25.05.

TriMas (NASDAQ:TRS - Get Free Report) last released its earnings results on Thursday, February 29th. The industrial products company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.17). TriMas had a return on equity of 8.85% and a net margin of 4.52%. The firm had revenue of $209.60 million for the quarter, compared to the consensus estimate of $246.44 million. During the same period in the prior year, the business earned $0.62 EPS. The company's quarterly revenue was up 3.1% on a year-over-year basis. As a group, research analysts forecast that TriMas will post 1.91 EPS for the current fiscal year.

TriMas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders 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 yield of 0.60%. The ex-dividend date is Monday, May 6th. TriMas's dividend payout ratio is presently 16.49%.

Insider Activity

In other TriMas news, CEO Thomas A. Amato purchased 10,000 shares of TriMas stock in a transaction that occurred on Friday, March 1st. The stock was purchased 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 of the company's stock, valued at approximately $6,759,288.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Institutional Trading of TriMas

Several hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of TriMas by 0.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,095,572 shares of the industrial products company's stock worth $82,745,000 after purchasing an additional 25,795 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of TriMas by 32.7% in the 1st quarter. Diversified Trust Co now owns 21,647 shares of the industrial products company's stock worth $579,000 after purchasing an additional 5,333 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of TriMas in the 4th quarter worth approximately $1,102,000. Vanguard Group Inc. increased its position in TriMas by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,258,456 shares of the industrial products company's stock valued at $107,867,000 after acquiring an additional 43,423 shares during the period. Finally, Wellington Management Group LLP increased its position in TriMas by 1.5% in the 4th quarter. Wellington Management Group LLP now owns 2,393,786 shares of the industrial products company's stock valued at $60,635,000 after acquiring an additional 34,596 shares during the period. Institutional investors own 99.42% of the company's stock.

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.