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

StockNews.com upgraded shares of Trinseo (NYSE:TSE) from a sell rating to a hold rating in a research report released on Thursday morning.

Trinseo Price Performance

Shares of TSE opened at $6.32 on Thursday. The business’s 50 day moving average price is $4.10 and its 200-day moving average price is $3.38. Trinseo has a 52 week low of $1.93 and a 52 week high of $8.83.

Trinseo (NYSE:TSE) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.37). The company had revenue of $920.00 million during the quarter, compared to analyst estimates of $958.16 million. During the same quarter in the previous year, the business earned ($1.92) earnings per share. On average, analysts forecast that Trinseo will post -6.73 EPS for the current year.

Trinseo Dividend Announcement

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 dividend of $0.01 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.63%. Trinseo’s dividend payout ratio is presently -0.32%.

Insider Buying and Selling at Trinseo

In related news, CEO Frank A. Bozich acquired 40,000 shares of Trinseo stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $2.57 per share, for a total transaction of $102,800.00. Following the purchase, the chief executive officer now directly owns 462,204 shares of the company’s stock, valued at approximately $1,187,864.28. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Frank A. Bozich acquired 40,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $2.57 per share, with a total value of $102,800.00. Following the acquisition, the chief executive officer now directly owns 462,204 shares of the company’s stock, valued at approximately $1,187,864.28. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP Angelo N. Chaclas acquired 75,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $2.57 per share, with a total value of $192,750.00. Following the acquisition, the senior vice president now directly owns 207,007 shares in the company, valued at approximately $532,007.99. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 265,600 shares of company stock worth $748,084. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TSE. M&G Plc bought a new position in shares of Trinseo during the 1st quarter valued at about $30,500,000. Los Angeles Capital Management LLC lifted its holdings in shares of Trinseo by 388.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 425,506 shares of the basic materials company’s stock valued at $983,000 after acquiring an additional 338,318 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Trinseo in the 2nd quarter valued at about $455,000. Vanguard Group Inc. lifted its holdings in shares of Trinseo by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 1,115,487 shares of the basic materials company’s stock valued at $4,217,000 after acquiring an additional 93,050 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Trinseo by 773.5% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 78,162 shares of the basic materials company’s stock valued at $181,000 after acquiring an additional 69,214 shares during the last quarter. Institutional investors own 82.69% of the company’s stock.

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.