Rhumbline Advisers Acquires 17,317 Shares of Trinseo S.A. (TSE)
Rhumbline Advisers grew its holdings in Trinseo S.A. (NYSE:TSE) by 51.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,691 shares of the basic materials company’s stock after purchasing an additional 17,317 shares during the period. Rhumbline Advisers owned about 0.12% of Trinseo worth $3,482,000 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 stake in shares of Trinseo in the second quarter valued at approximately $103,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Trinseo in the first quarter valued at approximately $154,000. Ronald Blue & Co. LLC acquired a new stake in shares of Trinseo in the first quarter valued at approximately $205,000. Amalgamated Bank acquired a new stake in shares of Trinseo in the first quarter valued at approximately $224,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Trinseo in the first quarter valued at approximately $231,000. Institutional investors own 97.82% of the company’s stock.
A number of brokerages recently weighed in on TSE. Citigroup Inc. lowered their target price on shares of Trinseo from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Monday, August 7th. BidaskClub downgraded shares of Trinseo from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and set a $82.00 target price on shares of Trinseo in a report on Tuesday, August 29th. Zacks Investment Research downgraded shares of Trinseo from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Barclays PLC lowered their target price on shares of Trinseo from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $75.80.
Trinseo S.A. (NYSE:TSE) opened at 68.15 on Thursday. Trinseo S.A. has a one year low of $44.70 and a one year high of $72.60. The company’s 50-day moving average is $65.14 and its 200-day moving average is $66.46. The firm has a market capitalization of $2.98 billion, a P/E ratio of 9.65 and a beta of 2.39.
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 analysts’ consensus estimates of $1.80 by $0.41. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Trinseo had a net margin of 7.88% and a return on equity of 67.05%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.30 earnings per share. Equities analysts forecast that Trinseo S.A. will post $6.70 earnings per share for the current fiscal year.
Trinseo announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 22nd that allows the company to buyback 2,000,000 shares. This buyback authorization allows the basic materials company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
In related news, insider Timothy M. Stedman sold 5,399 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $67.38, for a total value of $363,784.62. Following the completion of the sale, the insider now directly owns 18,298 shares of the company’s stock, valued at approximately $1,232,919.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher D. Pappas sold 25,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $71.04, for a total value of $1,776,000.00. Following the completion of the sale, the insider now directly owns 265,240 shares of the company’s stock, valued at $18,842,649.60. The disclosure for this sale can be found here. Insiders sold a total of 105,399 shares of company stock valued at $7,259,385 over the last three months. 0.65% of the stock is currently owned by 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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