3,700 Shares in Trinseo S.A. (TSE) Purchased by Quantitative Investment Management LLC
Quantitative Investment Management LLC bought a new stake in shares of Trinseo S.A. (NYSE:TSE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,700 shares of the basic materials company’s stock, valued at approximately $254,000.
Several other hedge funds and other institutional investors have also made changes to their positions in TSE. Alps Advisors Inc. raised its position in shares of Trinseo by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,811 shares of the basic materials company’s stock worth $468,000 after purchasing an additional 18 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Trinseo by 2.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,613 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 81 shares in the last quarter. Ronald Blue & Co. LLC boosted its stake in Trinseo by 5.2% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,206 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 158 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Trinseo by 5.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,004 shares of the basic materials company’s stock worth $269,000 after purchasing an additional 213 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in Trinseo by 0.4% in the 1st quarter. Teachers Advisors LLC now owns 64,832 shares of the basic materials company’s stock worth $4,350,000 after purchasing an additional 245 shares in the last quarter. 97.81% of the stock is owned by institutional investors and hedge funds.
Trinseo S.A. (TSE) opened at 68.90 on Tuesday. The stock has a market cap of $3.02 billion, a PE ratio of 9.76 and a beta of 2.37. Trinseo S.A. has a 1-year low of $44.70 and a 1-year high of $72.60. The stock has a 50 day moving average price of $65.50 and a 200 day moving average price of $66.08.
Trinseo (NYSE:TSE) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by ($0.41). Trinseo had a net margin of 7.88% and a return on equity of 67.05%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $2.30 earnings per share. Trinseo’s revenue was up 18.0% on a year-over-year basis. On average, analysts predict that Trinseo S.A. will post $6.75 EPS for the current fiscal year.
Trinseo announced that its board has approved a share repurchase plan on Thursday, June 22nd that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the basic materials company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, October 6th. Trinseo’s payout ratio is presently 20.34%.
In other news, Director Jeffrey J. Cote sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $65.01, for a total value of $325,050.00. Following the completion of the sale, the director now owns 15,640 shares of the company’s stock, valued at approximately $1,016,756.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher D. Pappas sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $69.49, for a total value of $1,737,250.00. Following the completion of the sale, the insider now directly owns 265,240 shares of the company’s stock, valued at approximately $18,431,527.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,399 shares of company stock valued at $5,914,585. Company insiders own 0.65% of the company’s stock.
TSE has been the topic of several recent analyst reports. Citigroup Inc. increased their price objective 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 reaffirmed a “buy” rating and issued a $74.00 target price (up from $72.00) on shares of Trinseo in a 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 target price for the company in a report on Friday, July 21st. Alembic Global Advisors reiterated a “buy” rating on shares of Trinseo in a research note on Tuesday, September 5th. Finally, BidaskClub upgraded shares of Trinseo from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $75.80.
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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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