TriMas Co. (NASDAQ:TRS – Get Free Report) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 253,800 shares, a decline of 25.2% from the June 15th total of 339,500 shares. Based on an average trading volume of 98,600 shares, the days-to-cover ratio is presently 2.6 days. Approximately 0.6% of the shares of the stock are short sold.
TriMas Price Performance
TriMas stock traded up $0.10 during mid-day trading on Monday, reaching $27.66. The company had a trading volume of 12,164 shares, compared to its average volume of 111,087. TriMas has a fifty-two week low of $21.41 and a fifty-two week high of $31.89. The company has a current ratio of 2.63, a quick ratio of 1.48 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.15 billion, a P/E ratio of 20.26 and a beta of 0.73. The business has a fifty day simple moving average of $26.58 and a 200 day simple moving average of $27.85.
TriMas (NASDAQ:TRS – Get Free Report) last issued its earnings results on Thursday, April 27th. The industrial products company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. TriMas had a net margin of 6.50% and a return on equity of 10.49%. The firm had revenue of $215.50 million for the quarter, compared to analyst estimates of $208.00 million. During the same quarter last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities research analysts predict that TriMas will post 2.07 earnings per share for the current year.
TriMas Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 11th. Stockholders of record on Thursday, May 4th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.58%. TriMas’s dividend payout ratio (DPR) is presently 11.76%.
Insider Transactions at TriMas
In other news, Director Jeffrey A. Fielkow acquired 1,000 shares of TriMas stock in a transaction on Thursday, May 4th. The shares were purchased at an average price of $25.26 per share, with a total value of $25,260.00. Following the acquisition, the director now owns 4,445 shares in the company, valued at $112,280.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Scott A. Mell sold 1,150 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $25.41, for a total value of $29,221.50. Following the completion of the sale, the chief financial officer now owns 28,518 shares in the company, valued at approximately $724,642.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey A. Fielkow acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average price of $25.26 per share, with a total value of $25,260.00. Following the transaction, the director now owns 4,445 shares in the company, valued at $112,280.70. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On TriMas
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of TriMas by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,321,341 shares of the industrial products company’s stock worth $64,394,000 after acquiring an additional 40,084 shares during the last quarter. Diversified Trust Co increased its stake in TriMas by 14.5% in the 1st quarter. Diversified Trust Co now owns 20,439 shares of the industrial products company’s stock valued at $569,000 after buying an additional 2,589 shares during the last quarter. Teacher Retirement System of Texas increased its stake in TriMas by 692.3% in the 4th quarter. Teacher Retirement System of Texas now owns 66,363 shares of the industrial products company’s stock valued at $1,841,000 after buying an additional 57,987 shares during the last quarter. First Trust Advisors LP increased its stake in TriMas by 1.8% in the 4th quarter. First Trust Advisors LP now owns 76,866 shares of the industrial products company’s stock valued at $2,132,000 after buying an additional 1,325 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in TriMas by 0.5% in the 4th quarter. Victory Capital Management Inc. now owns 3,168,241 shares of the industrial products company’s stock valued at $87,939,000 after buying an additional 17,171 shares during the last quarter. Institutional investors and hedge funds own 99.86% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on TRS. TheStreet downgraded shares of TriMas from a “b” rating to a “c” rating in a research note on Monday, May 1st. StockNews.com began coverage on shares of TriMas in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, BWS Financial started coverage on shares of TriMas in a research report on Monday, May 22nd. They set a “buy” rating and a $40.00 price objective for the company.
About TriMas
TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. It operates through three segments: Packaging, Aerospace, and Specialty Products. 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.