Trinseo (NYSE:TSE) Upgraded to “Hold” at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Trinseo (NYSE:TSE – Free Report) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Trinseo Stock Performance

Shares of NYSE TSE opened at $6.51 on Thursday. Trinseo has a fifty-two week low of $1.93 and a fifty-two week high of $8.83. The firm’s 50-day simple moving average is $4.25 and its 200 day simple moving average is $3.43. The stock has a market cap of $230.19 million, a price-to-earnings ratio of -0.51 and a beta of 1.63.

Trinseo (NYSE:TSE – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.37). The company had revenue of $920.00 million for the quarter, compared to the consensus estimate of $958.16 million. During the same quarter in the prior year, the firm earned ($1.92) earnings per share. On average, sell-side analysts predict that Trinseo will post -6.73 EPS for the current year.

Trinseo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Thursday, October 10th. Trinseo’s payout ratio is -0.32%.

Insider Buying and Selling at Trinseo

In other Trinseo news, CEO Frank A. Bozich bought 40,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $2.57 per share, for a total transaction of $102,800.00. Following the completion of the transaction, the chief executive officer now directly owns 462,204 shares of the company’s stock, valued at $1,187,864.28. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Jeffrey J. Cote acquired 100,000 shares of Trinseo stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price of $2.81 per share, with a total value of $281,000.00. Following the completion of the purchase, the director now owns 100,000 shares in the company, valued at approximately $281,000. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frank A. Bozich purchased 40,000 shares of Trinseo stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $2.57 per share, with a total value of $102,800.00. Following the completion of the transaction, the chief executive officer now directly owns 462,204 shares in the company, valued at approximately $1,187,864.28. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 265,600 shares of company stock valued at $748,084. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Trinseo

A number of institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV purchased a new position in Trinseo in the second quarter worth $25,000. Ground Swell Capital LLC purchased a new stake in shares of Trinseo in the 2nd quarter worth about $29,000. Red Door Wealth Management LLC purchased a new stake in Trinseo in the second quarter worth about $35,000. Meeder Asset Management Inc. bought a new position in shares of Trinseo during the second quarter valued at approximately $37,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Trinseo during the first quarter valued at approximately $48,000. 82.69% of the stock is currently owned by institutional investors.

About Trinseo

(Get Free Report)

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.

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