Trinseo (NYSE:TSE) Stock Passes Below 200 Day Moving Average – Here’s Why

Trinseo PLC (NYSE:TSE)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.73 and traded as low as $4.09. Trinseo shares last traded at $4.13, with a volume of 280,107 shares changing hands.

Trinseo Price Performance

The company has a market cap of $148.49 million, a price-to-earnings ratio of -0.42 and a beta of 1.44. The stock has a 50-day moving average price of $4.60 and a 200 day moving average price of $4.72.

Trinseo (NYSE:TSE) last announced its earnings results on Wednesday, February 12th. The basic materials company reported ($2.67) EPS for the quarter, missing the consensus estimate of ($2.30) by ($0.37). Sell-side analysts expect that Trinseo PLC will post -3.88 EPS for the current fiscal year.

Trinseo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, April 10th. Trinseo’s payout ratio is -0.41%.

Hedge Funds Weigh In On Trinseo

Hedge funds have recently made changes to their positions in the business. CastleKnight Management LP boosted its holdings in Trinseo by 128.1% during the fourth quarter. CastleKnight Management LP now owns 2,479,618 shares of the basic materials company’s stock worth $12,646,000 after purchasing an additional 1,392,476 shares during the last quarter. Brightline Capital Management LLC bought a new stake in Trinseo during the 4th quarter worth about $4,820,000. Marshall Wace LLP boosted its stake in shares of Trinseo by 1.7% during the 4th quarter. Marshall Wace LLP now owns 618,192 shares of the basic materials company’s stock worth $3,153,000 after buying an additional 10,543 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Trinseo by 10.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 430,340 shares of the basic materials company’s stock worth $2,199,000 after buying an additional 40,588 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Trinseo by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 388,751 shares of the basic materials company’s stock valued at $1,984,000 after acquiring an additional 2,820 shares in the last quarter. 82.69% of the stock is owned by institutional investors.

About Trinseo

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. It operates through five segments: Engineered Materials, Latex Binders, Plastics Solutions, Polystyrene, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, activated methyl methacrylates (MMA), PMMA resins, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction applications under the EMERGE, CALIBRE, PLEXIGLAS, ALTUGLAS, ACRYSPA, AVONITE, STUDIO, MEGOL, APILON, APIGO, and APINAT brands.