TriMas Corp (NASDAQ:TRS) Short Interest Up 16.0% in November

TriMas Corp (NASDAQ:TRS) was the target of a significant growth in short interest in November. As of November 29th, there was short interest totalling 402,100 shares, a growth of 16.0% from the November 14th total of 346,600 shares. Based on an average daily volume of 135,300 shares, the short-interest ratio is currently 3.0 days. Approximately 0.9% of the shares of the stock are sold short.

In other TriMas news, insider Joshua A. Sherbin sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the insider now owns 60,431 shares in the company, valued at $1,812,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas A. Amato sold 16,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $31.02, for a total value of $496,320.00. Insiders have sold 29,319 shares of company stock worth $904,322 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new position in shares of TriMas in the third quarter worth about $263,000. Squarepoint Ops LLC increased its holdings in shares of TriMas by 37.9% in the third quarter. Squarepoint Ops LLC now owns 18,773 shares of the industrial products company’s stock worth $575,000 after buying an additional 5,159 shares during the period. Zebra Capital Management LLC increased its holdings in shares of TriMas by 14.1% in the third quarter. Zebra Capital Management LLC now owns 19,471 shares of the industrial products company’s stock worth $597,000 after buying an additional 2,413 shares during the period. California State Teachers Retirement System increased its holdings in shares of TriMas by 0.9% in the third quarter. California State Teachers Retirement System now owns 70,850 shares of the industrial products company’s stock worth $2,172,000 after buying an additional 658 shares during the period. Finally, Stifel Financial Corp increased its holdings in shares of TriMas by 2.0% in the third quarter. Stifel Financial Corp now owns 47,588 shares of the industrial products company’s stock worth $1,459,000 after buying an additional 921 shares during the period. Hedge funds and other institutional investors own 96.28% of the company’s stock.

TRS opened at $31.44 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of 17.97, a P/E/G ratio of 3.47 and a beta of 1.33. The business’s 50-day moving average price is $31.19 and its 200-day moving average price is $30.31. The company has a current ratio of 2.92, a quick ratio of 1.61 and a debt-to-equity ratio of 0.49. TriMas has a 12 month low of $25.18 and a 12 month high of $33.45.

TriMas (NASDAQ:TRS) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.06). The company had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $241.92 million. TriMas had a return on equity of 12.68% and a net margin of 8.46%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. Equities research analysts forecast that TriMas will post 1.78 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded TriMas from a “sell” rating to a “hold” rating and set a $31.00 price target on the stock in a research report on Tuesday, August 20th. BidaskClub upgraded TriMas from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th.

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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