Trinseo S.A. (TSE) Director Jeffrey J. Cote Sells 5,000 Shares
Trinseo S.A. (NYSE:TSE) Director Jeffrey J. Cote sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $65.01, for a total transaction of $325,050.00. Following the transaction, the director now directly owns 15,640 shares in the company, valued at approximately $1,016,756.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Trinseo S.A. (NYSE TSE) traded up 2.39% during mid-day trading on Friday, reaching $68.50. 1,013,436 shares of the company traded hands. The company’s 50 day moving average is $65.45 and its 200 day moving average is $66.56. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 9.70 and a beta of 2.38. Trinseo S.A. has a 52-week low of $44.70 and a 52-week high of $72.60.
Trinseo (NYSE:TSE) last issued its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by $0.41. Trinseo had a return on equity of 67.05% and a net margin of 7.88%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $2.30 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities analysts forecast that Trinseo S.A. will post $6.70 earnings per share for the current year.
Trinseo announced that its Board of Directors has initiated a share repurchase program on Thursday, June 22nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the basic materials company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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Hedge funds have recently modified their holdings of the company. National Asset Management Inc. raised its stake in shares of Trinseo by 9.1% in the second quarter. National Asset Management Inc. now owns 3,857 shares of the basic materials company’s stock worth $265,000 after buying an additional 323 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Trinseo by 69.3% in the second quarter. Ameritas Investment Partners Inc. now owns 3,898 shares of the basic materials company’s stock worth $268,000 after buying an additional 1,596 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Trinseo by 46.7% in the second quarter. California State Teachers Retirement System now owns 78,630 shares of the basic materials company’s stock worth $5,402,000 after buying an additional 25,049 shares during the last quarter. TVR Capital Management LP acquired a new stake in shares of Trinseo during the second quarter worth about $2,728,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Trinseo by 61.0% in the second quarter. The Manufacturers Life Insurance Company now owns 34,089 shares of the basic materials company’s stock worth $2,342,000 after buying an additional 12,917 shares during the last quarter. 97.82% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. Citigroup Inc. boosted their price target on shares of Trinseo from $67.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, July 12th. Deutsche Bank AG reissued a “buy” rating and set a $74.00 price target (up previously from $72.00) on shares of Trinseo in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Trinseo from a “hold” rating to a “strong-buy” rating and set a $82.00 price target on the stock in a research report on Friday, July 21st. BidaskClub raised shares of Trinseo from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $82.00 price target on shares of Trinseo in a research report on Friday, June 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $75.80.
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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