New York State Teachers Retirement System trimmed its position in shares of Trinseo S.A. (NYSE:TSE) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,233 shares of the basic materials company’s stock after selling 829 shares during the quarter. New York State Teachers Retirement System owned approximately 0.05% of Trinseo worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings 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 during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Trinseo by 22.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 977,912 shares of the basic materials company’s stock valued at $17,710,000 after buying an additional 182,467 shares during the last quarter. Norges Bank acquired a new stake in shares of Trinseo during the 4th quarter valued at about $25,764,000. Geode Capital Management LLC lifted its holdings in shares of Trinseo by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 556,314 shares of the basic materials company’s stock valued at $10,074,000 after buying an additional 9,831 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Trinseo by 55.1% in the 1st quarter. Federated Hermes Inc. now owns 518,705 shares of the basic materials company’s stock valued at $9,394,000 after acquiring an additional 184,370 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.
In other news, major shareholder M&G Investment Management Ltd sold 10,000 shares of Trinseo stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $25.63, for a total transaction of $256,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by company insiders.
TSE has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Trinseo from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Citigroup cut their price objective on Trinseo from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. ValuEngine raised Trinseo from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. Morgan Stanley downgraded Trinseo from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $19.00 to $14.00 in a research note on Thursday, May 28th. Finally, Deutsche Bank cut their price objective on Trinseo from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $23.50.
Shares of NYSE TSE opened at $21.70 on Friday. The company has a quick ratio of 2.14, a current ratio of 3.08 and a debt-to-equity ratio of 2.89. The business’s 50 day moving average is $22.72 and its two-hundred day moving average is $23.07. The company has a market cap of $829.81 million, a P/E ratio of -6.03 and a beta of 1.75. Trinseo S.A. has a 12 month low of $14.16 and a 12 month high of $50.14.
Trinseo (NYSE:TSE) last issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported ($2.95) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.54) by ($0.41). The business had revenue of $569.70 million during the quarter, compared to the consensus estimate of $599.45 million. Trinseo had a negative return on equity of 10.14% and a negative net margin of 4.22%. The business’s quarterly revenue was down 40.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 earnings per share. Sell-side analysts expect that Trinseo S.A. will post -1.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 7.37%. The ex-dividend date of this dividend was Wednesday, July 8th. Trinseo’s payout ratio is presently 51.12%.
Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in Europe, the United States, 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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