State of Alaska Department of Revenue purchased a new position in Trinseo PLC (NYSE:TSE – Get Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 27,345 shares of the basic materials company's stock, valued at approximately $1,051,000. State of Alaska Department of Revenue owned about 0.08% of Trinseo at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. lifted its holdings in shares of Trinseo by 1,800.0% in the 1st quarter. Meeder Asset Management Inc. now owns 551 shares of the basic materials company's stock worth $26,000 after purchasing an additional 522 shares during the last quarter. Ellevest Inc. increased its position in Trinseo by 202.3% in the 1st quarter. Ellevest Inc. now owns 653 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 437 shares during the period. Steward Partners Investment Advisory LLC increased its position in Trinseo by 233.3% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 700 shares during the period. UMB Bank N A MO acquired a new stake in Trinseo in the 1st quarter valued at approximately $50,000. Finally, Citizens National Bank Trust Department acquired a new stake in Trinseo in the 4th quarter valued at approximately $73,000. Institutional investors own 97.00% of the company's stock.
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Wall Street Analyst Weigh In
Several research firms recently commented on TSE. Deutsche Bank Aktiengesellschaft lowered their target price on Trinseo from $34.00 to $22.00 and set a "hold" rating on the stock in a research report on Tuesday. TheStreet cut Trinseo from a "b-" rating to a "c+" rating in a research report on Tuesday, August 16th. Barclays lowered their target price on Trinseo from $53.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 10th. StockNews.com cut Trinseo from a "hold" rating to a "sell" rating in a research report on Tuesday, September 6th. Finally, Morgan Stanley decreased their price target on Trinseo from $47.00 to $33.00 and set an "equal weight" rating for the company in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Trinseo currently has a consensus rating of "Moderate Buy" and an average target price of $24.28.
Insider Transactions at Trinseo
In related news, Director Jeffrey J. Cote acquired 10,000 shares of Trinseo stock in a transaction dated Monday, August 15th. The stock was acquired at an average cost of $31.76 per share, with a total value of $317,600.00. Following the purchase, the director now directly owns 30,117 shares in the company, valued at approximately $956,515.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through
the SEC website. In other Trinseo news, Director Jeffrey J. Cote bought 10,000 shares of Trinseo stock in a transaction dated Monday, August 15th. The stock was bought at an average price of $31.76 per share, for a total transaction of $317,600.00. Following the completion of the acquisition, the director now directly owns 30,117 shares of the company's stock, valued at $956,515.92. The transaction was disclosed in a document filed with the SEC, which is accessible through
the SEC website. Also, Director Jeanmarie F. Desmond bought 1,335 shares of Trinseo stock in a transaction dated Wednesday, September 7th. The stock was acquired at an average price of $25.46 per share, with a total value of $33,989.10. Following the acquisition, the director now directly owns 5,665 shares of the company's stock, valued at $144,230.90. The disclosure for this purchase can be found
here. Corporate insiders own 1.50% of the company's stock.
Trinseo Stock Performance
Shares of NYSE TSE opened at $18.74 on Wednesday. The firm has a market cap of $655.39 million, a P/E ratio of 2.70 and a beta of 1.32. The company has a debt-to-equity ratio of 2.49, a quick ratio of 1.34 and a current ratio of 2.22. The stock has a fifty day moving average price of $29.89 and a two-hundred day moving average price of $39.70. Trinseo PLC has a 1 year low of $18.59 and a 1 year high of $61.63.
Trinseo (NYSE:TSE – Get Rating) last released its quarterly earnings data on Monday, August 8th. The basic materials company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.23). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.37 billion. Trinseo had a return on equity of 26.89% and a net margin of 5.04%. Research analysts forecast that Trinseo PLC will post 4.94 EPS for the current fiscal year.
Trinseo Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Thursday, October 6th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 6.83%. The ex-dividend date is Wednesday, October 5th. Trinseo's dividend payout ratio is presently 18.42%.
About Trinseo
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Trinseo PLC, a materials solutions provider, manufactures and sells plastics and latex binders in the United States, Europe, the Asia-Pacific, and internationally. The company operates through six segments: Engineered Materials, Latex Binders, Base Plastics, Polystyrene, Feedstocks, and Americas Styrenics.
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