Citigroup Downgrades Trinseo (NYSE:TSE) to Neutral
Citigroup cut shares of Trinseo (NYSE:TSE) from a buy rating to a neutral rating in a report published on Tuesday, BenzingaRatingsTable reports. They currently have $32.00 target price on the basic materials company’s stock, down from their prior target price of $48.00.
Several other research firms have also weighed in on TSE. Goldman Sachs Group lowered Trinseo from a neutral rating to a sell rating in a research report on Wednesday, July 17th. Zacks Investment Research lowered Trinseo from a hold rating to a strong sell rating in a research report on Thursday, July 4th. Deutsche Bank dropped their price target on Trinseo from $55.00 to $50.00 and set a buy rating on the stock in a research report on Monday, July 1st. They noted that the move was a valuation call. ValuEngine raised Trinseo from a strong sell rating to a sell rating in a research report on Wednesday, June 12th. Finally, TheStreet lowered Trinseo from a b- rating to a c+ rating in a research report on Friday, May 17th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $49.86.
NYSE:TSE opened at $29.29 on Tuesday. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 4.04, a PEG ratio of 0.56 and a beta of 2.02. Trinseo has a 1-year low of $27.37 and a 1-year high of $82.18. The company has a current ratio of 2.83, a quick ratio of 2.05 and a debt-to-equity ratio of 1.63. The business’s fifty day moving average price is $37.24 and its 200 day moving average price is $43.16.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.46%. The ex-dividend date was Wednesday, July 10th. Trinseo’s payout ratio is currently 22.07%.
In other news, insider Frank A. Bozich bought 15,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $28.97 per share, with a total value of $434,550.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Catherine C. Keenan sold 5,050 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $38.41, for a total value of $193,970.50. Following the completion of the transaction, the insider now directly owns 15,901 shares in the company, valued at $610,757.41. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
Hedge funds have recently modified their holdings of the business. LSV Asset Management increased its holdings in shares of Trinseo by 5.1% during the 1st 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. Prudential Financial Inc. increased its holdings in shares of Trinseo by 124.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,199,121 shares of the basic materials company’s stock valued at $50,771,000 after acquiring an additional 663,792 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Trinseo by 7.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,147,764 shares of the basic materials company’s stock valued at $48,195,000 after acquiring an additional 75,983 shares during the last quarter. Norges Bank acquired a new position in shares of Trinseo during the 4th quarter valued at about $34,146,000. Finally, FMR LLC increased its holdings in shares of Trinseo by 151.9% during the 4th 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. 96.81% of the stock is currently owned by institutional investors.
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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