TriMas Corp (NASDAQ:TRS) Short Interest Update

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TriMas Corp (NASDAQ:TRS) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 411,000 shares, a growth of 7.8% from the June 15th total of 381,300 shares. Based on an average daily volume of 237,000 shares, the short-interest ratio is currently 1.7 days. Currently, 1.0% of the shares of the stock are short sold.

TRS has been the topic of several research analyst reports. William Blair upgraded shares of TriMas from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 2nd. BidaskClub cut shares of TriMas from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Zacks Investment Research upgraded shares of TriMas from a “sell” rating to a “hold” rating and set a $21.00 price objective on the stock in a report on Saturday, May 16th.

In other news, Director Holly M. Boehne purchased 2,582 shares of TriMas stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $19.31 per share, for a total transaction of $49,858.42. Following the transaction, the director now directly owns 6,952 shares of the company’s stock, valued at $134,243.12. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Ancora Advisors LLC bought a new position in shares of TriMas in the fourth quarter worth about $35,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TriMas by 23.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,748 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 715 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in TriMas during the fourth quarter valued at approximately $95,000. Northwestern Mutual Wealth Management Co. purchased a new stake in TriMas during the first quarter worth $121,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of TriMas by 105.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,480 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 2,810 shares during the period. Institutional investors own 96.57% of the company’s stock.

Shares of TRS opened at $23.31 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.64 and a quick ratio of 3.30. TriMas has a one year low of $18.05 and a one year high of $33.07. The firm has a market capitalization of $1.01 billion, a P/E ratio of 11.37 and a beta of 1.04. The business has a fifty day moving average of $23.37 and a 200 day moving average of $25.59.

TriMas (NASDAQ:TRS) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04. TriMas had a return on equity of 10.72% and a net margin of 11.16%. The company had revenue of $182.80 million during the quarter, compared to analyst estimates of $177.23 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. TriMas’s revenue was up 5.4% compared to the same quarter last year. Analysts expect that TriMas will post 1.29 EPS for the current fiscal year.

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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