Short Interest in TriMas Corp (NASDAQ:TRS) Decreases By 20.5%
TriMas Corp (NASDAQ:TRS) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 275,300 shares, a decrease of 20.5% from the December 15th total of 346,400 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average trading volume of 142,500 shares, the short-interest ratio is presently 1.9 days.
In other news, insider Fisher Steven acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average price of $2.32 per share, with a total value of $116,000.00. Also, CAO Paul Swart sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $31.12, for a total transaction of $77,800.00. The disclosure for this sale can be found here. Insiders sold 29,319 shares of company stock worth $904,322 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of TRS. Nuveen Asset Management LLC bought a new stake in TriMas during the second quarter worth about $14,498,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of TriMas by 13.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,141,256 shares of the industrial products company’s stock worth $34,979,000 after acquiring an additional 137,975 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of TriMas by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 737,088 shares of the industrial products company’s stock worth $22,828,000 after acquiring an additional 75,697 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of TriMas by 15.8% in the second quarter. Renaissance Technologies LLC now owns 523,900 shares of the industrial products company’s stock worth $16,225,000 after acquiring an additional 71,400 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of TriMas by 1.7% in the second quarter. BlackRock Inc. now owns 3,421,959 shares of the industrial products company’s stock worth $105,978,000 after acquiring an additional 58,807 shares during the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.
TriMas (NASDAQ:TRS) last posted its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.06). TriMas had a return on equity of 12.68% and a net margin of 8.46%. The firm had revenue of $236.80 million for the quarter, compared to the consensus estimate of $241.92 million. During the same period in the prior year, the company earned $0.48 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts expect that TriMas will post 1.78 earnings per share for the current fiscal year.
Separately, BidaskClub cut shares of TriMas from a “buy” rating to a “hold” rating in a research report on Friday, December 27th.
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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