Victory Capital Management Inc. Reduces Position in Trinseo S.A. (TSE)
Victory Capital Management Inc. lowered its position in shares of Trinseo S.A. (NYSE:TSE) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 900,907 shares of the basic materials company’s stock after selling 51,798 shares during the period. Victory Capital Management Inc. owned 2.05% of Trinseo worth $61,893,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. acquired a new position in Trinseo during the second quarter worth approximately $103,000. Ameritas Investment Partners Inc. acquired a new position in Trinseo during the first quarter worth approximately $154,000. Ronald Blue & Co. LLC acquired a new position in Trinseo during the first quarter worth approximately $205,000. Amalgamated Bank acquired a new position in Trinseo during the first quarter worth approximately $224,000. Finally, SG Americas Securities LLC increased its position in Trinseo by 91.4% in the second quarter. SG Americas Securities LLC now owns 3,280 shares of the basic materials company’s stock worth $225,000 after buying an additional 1,566 shares during the period. 97.55% of the stock is currently owned by institutional investors and hedge funds.
Trinseo S.A. (TSE) opened at 62.95 on Friday. The stock has a market cap of $2.76 billion, a P/E ratio of 8.92 and a beta of 2.38. The stock has a 50 day moving average of $65.84 and a 200-day moving average of $66.67. Trinseo S.A. has a 12 month low of $44.70 and a 12 month high of $72.60.
Trinseo (NYSE:TSE) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.80 by $0.41. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. Trinseo had a return on equity of 67.05% and a net margin of 7.88%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the firm posted $2.30 earnings per share. On average, equities analysts forecast that Trinseo S.A. will post $6.70 EPS for the current fiscal year.
Trinseo declared that its Board of Directors has initiated a share buyback plan on Thursday, June 22nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts have commented on TSE shares. ValuEngine downgraded shares of Trinseo from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 14th. BidaskClub raised shares of Trinseo from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and set a $82.00 target price on shares of Trinseo in a research report on Friday, June 16th. Deutsche Bank AG reissued a “buy” rating and set a $74.00 target price (up previously from $72.00) on shares of Trinseo in a research report on Wednesday, August 9th. Finally, Barclays PLC cut their target price on shares of Trinseo from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Trinseo currently has a consensus rating of “Hold” and a consensus target price of $75.80.
In related news, insider Christopher D. Pappas sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $67.24, for a total transaction of $1,344,800.00. Following the transaction, the insider now directly owns 260,240 shares of the company’s stock, valued at approximately $17,498,537.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher D. Pappas sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $71.04, for a total value of $1,776,000.00. Following the transaction, the insider now directly owns 265,240 shares in the company, valued at $18,842,649.60. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock worth $4,858,050 over the last three months. 0.65% of the stock is currently owned by corporate insiders.
Trinseo Company Profile
Trinseo SA is a materials company engaged in the manufacture and marketing of synthetic rubber, latex and plastics. The Company’s segments include Latex Binders, Synthetic Rubber, Performance Plastics, Basic Plastics, Feedstocks and Americas Styrenics. The Latex Binders segment produces styrene-butadiene latex (SB latex) and other latex polymers and binders.
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