TriMas Corp (NASDAQ:TRS) Sees Large Increase in Short Interest

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

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

In related news, Director Eugene A. Miller sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $30.01, for a total transaction of $300,100.00. Following the completion of the sale, the director now directly owns 99,425 shares in the company, valued at $2,983,744.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joshua A. Sherbin sold 21,355 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $30.26, for a total value of $646,202.30. Following the sale, the insider now owns 74,688 shares of the company’s stock, valued at $2,260,058.88. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.



A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRS. Bank of America Corp DE boosted its holdings in shares of TriMas by 20.2% during the 4th quarter. Bank of America Corp DE now owns 66,396 shares of the industrial products company’s stock valued at $1,811,000 after buying an additional 11,161 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of TriMas by 9.9% during the 4th quarter. Legal & General Group Plc now owns 17,300 shares of the industrial products company’s stock valued at $472,000 after buying an additional 1,565 shares in the last quarter. Norges Bank bought a new stake in shares of TriMas during the 4th quarter valued at $29,427,000. Geode Capital Management LLC boosted its holdings in shares of TriMas by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 524,716 shares of the industrial products company’s stock valued at $14,319,000 after buying an additional 42,250 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings 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 buying an additional 800 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Shares of TRS opened at $29.10 on Friday. 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 has a one year low of $25.18 and a one year high of $33.45. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 3.07 and a beta of 1.45. The stock has a 50 day moving average price of $30.36 and a 200 day moving average price of $30.59.

TriMas (NASDAQ:TRS) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. TriMas had a return on equity of 13.32% and a net margin of 8.99%. The firm had revenue of $239.37 million during the quarter, compared to analysts’ expectations of $240.57 million. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts predict that TriMas will post 1.91 earnings per share for the current year.

About TriMas

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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