LSV Asset Management reduced its stake in shares of Trinseo S.A. (NYSE:TSE) by 12.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,953,367 shares of the basic materials company’s stock after selling 279,151 shares during the period. LSV Asset Management owned 5.10% of Trinseo worth $50,084,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Trinseo by 14.8% during the 1st quarter. State Street Corp now owns 1,429,587 shares of the basic materials company’s stock valued at $25,890,000 after buying an additional 184,599 shares in the last quarter. Towle & Co. lifted its holdings in Trinseo by 15.3% in the 2nd quarter. Towle & Co. now owns 1,007,134 shares of the basic materials company’s stock worth $22,318,000 after purchasing an additional 133,611 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Trinseo by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 556,314 shares of the basic materials company’s stock worth $10,074,000 after purchasing an additional 9,831 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Trinseo by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 478,086 shares of the basic materials company’s stock worth $10,595,000 after purchasing an additional 11,362 shares in the last quarter. Finally, State of Wisconsin Investment Board lifted its holdings in Trinseo by 93.1% in the 2nd quarter. State of Wisconsin Investment Board now owns 254,750 shares of the basic materials company’s stock worth $5,645,000 after purchasing an additional 122,850 shares in the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.
In other Trinseo news, major shareholder M&G Investment Management Ltd sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $27.22, for a total value of $136,100.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.20% of the company’s stock.
A number of research firms recently commented on TSE. Jefferies Financial Group boosted their price target on Trinseo from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Alembic Global Advisors raised Trinseo from a “neutral” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research note on Monday, September 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Trinseo from $24.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, October 20th. Morgan Stanley lifted their price objective on Trinseo from $14.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 14th. Finally, Zacks Investment Research downgraded Trinseo from a “hold” rating to a “sell” rating in a research note on Thursday, October 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Trinseo presently has a consensus rating of “Hold” and an average price target of $29.57.
Shares of NYSE TSE traded down $1.33 during trading hours on Monday, hitting $33.11. 5,813 shares of the company traded hands, compared to its average volume of 584,036. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -9.57 and a beta of 1.87. The company has a current ratio of 3.08, a quick ratio of 2.36 and a debt-to-equity ratio of 2.75. The company’s 50 day moving average price is $27.81 and its 200 day moving average price is $23.58. Trinseo S.A. has a 12 month low of $14.16 and a 12 month high of $50.14.
Trinseo (NYSE:TSE) last released its earnings results on Wednesday, July 29th. The basic materials company reported ($2.95) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.54) by ($0.41). The company had revenue of $569.70 million for the quarter, compared to the consensus estimate of $599.45 million. Trinseo had a negative net margin of 4.22% and a negative return on equity of 10.14%. The business’s revenue for the quarter was down 40.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. Equities analysts anticipate that Trinseo S.A. will post -0.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Thursday, October 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Wednesday, October 7th. Trinseo’s dividend payout ratio (DPR) is presently 51.12%.
Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in the United States, Europe, the Asia-Pacific, and internationally. The company operates through six segments: Latex Binders, Synthetic Rubber, Performance Plastics, Polystyrene, Feedstocks, and Americas Styrenics.
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