Strs Ohio increased its stake in shares of Trinseo S.A. (NYSE:TSE) by 410.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,500 shares of the basic materials company’s stock after purchasing an additional 18,900 shares during the quarter. Strs Ohio owned about 0.06% of Trinseo worth $994,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSE. LSV Asset Management boosted its stake in Trinseo by 5.1% in the first quarter. LSV Asset Management now owns 2,470,156 shares of the basic materials company’s stock valued at $111,898,000 after acquiring an additional 118,850 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Trinseo by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 1,071,781 shares of the basic materials company’s stock valued at $48,552,000 after acquiring an additional 32,643 shares during the last quarter. Norges Bank bought a new position in Trinseo in the fourth quarter valued at approximately $34,146,000. FMR LLC boosted its stake in Trinseo by 151.9% in the fourth quarter. FMR LLC now owns 678,340 shares of the basic materials company’s stock valued at $31,054,000 after acquiring an additional 409,062 shares during the last quarter. Finally, Systematic Financial Management LP boosted its stake in Trinseo by 4.1% in the first quarter. Systematic Financial Management LP now owns 296,581 shares of the basic materials company’s stock valued at $13,435,000 after acquiring an additional 11,764 shares during the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Catherine C. Keenan sold 5,050 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $38.41, for a total transaction of $193,970.50. Following the sale, the insider now directly owns 15,901 shares in the company, valued at $610,757.41. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Catherine C. Keenan sold 12,264 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $38.17, for a total transaction of $468,116.88. Following the sale, the insider now owns 15,901 shares in the company, valued at $606,941.17. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.
Trinseo (NYSE:TSE) last posted its earnings results on Thursday, August 8th. The basic materials company reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.63). The firm had revenue of $951.80 million during the quarter, compared to analyst estimates of $1.07 billion. Trinseo had a return on equity of 22.44% and a net margin of 3.25%. The company’s revenue for the quarter was down 23.0% on a year-over-year basis. During the same quarter last year, the business posted $2.40 earnings per share. Research analysts forecast that Trinseo S.A. will post 4.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.60 annualized dividend and a yield of 5.31%. Trinseo’s dividend payout ratio (DPR) is presently 22.07%.
A number of equities analysts have issued reports on the stock. Deutsche Bank reduced their price objective on shares of Trinseo from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. They noted that the move was a valuation call. ValuEngine raised shares of Trinseo from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 12th. Goldman Sachs Group cut shares of Trinseo from a “neutral” rating to a “sell” rating in a research note on Wednesday, July 17th. Citigroup cut shares of Trinseo from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $48.00 to $32.00 in a research note on Tuesday. Finally, Zacks Investment Research lowered shares of Trinseo from a “hold” rating to a “strong sell” rating in a report on Thursday, July 4th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Trinseo has a consensus rating of “Hold” and a consensus target price of $54.83.
Trinseo Company Profile
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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