Trinseo (NYSE:TSE) Announces Quarterly Earnings Results, Misses Estimates By $0.45 EPS

Trinseo (NYSE:TSE) released its earnings results on Thursday. The basic materials company reported ($2.41) earnings per share for the quarter, missing the consensus estimate of ($1.96) by ($0.45), Zacks reports.

Trinseo Stock Performance

Shares of Trinseo stock traded down $0.14 during trading hours on Thursday, hitting $1.25. The company’s stock had a trading volume of 416,324 shares, compared to its average volume of 458,864. The business has a 50 day moving average price of $2.09 and a two-hundred day moving average price of $2.69. Trinseo has a 12-month low of $1.25 and a 12-month high of $6.85. The company has a market cap of $44.94 million, a PE ratio of -0.11 and a beta of 1.52.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TSE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trinseo in a research report on Wednesday, October 8th. Zacks Research cut Trinseo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Insider Buying and Selling

In other Trinseo news, Director Matthew Farrell purchased 48,609 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average cost of $2.43 per share, with a total value of $118,119.87. Following the acquisition, the director owned 250,225 shares in the company, valued at approximately $608,046.75. This trade represents a 24.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 100,000 shares of company stock valued at $240,028. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trinseo

Several hedge funds have recently modified their holdings of TSE. Sugar Maple Asset Management LLC purchased a new position in shares of Trinseo in the second quarter worth $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Trinseo in the 2nd quarter worth $58,000. New York State Common Retirement Fund purchased a new stake in Trinseo in the 2nd quarter worth $92,000. Dynamic Technology Lab Private Ltd purchased a new stake in Trinseo in the 1st quarter worth $118,000. Finally, BNP Paribas Financial Markets lifted its stake in Trinseo by 80.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 41,586 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 18,508 shares in the last quarter. Hedge funds and other institutional investors own 82.69% of the company’s stock.

Trinseo Company Profile

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. It operates through five segments: Engineered Materials, Latex Binders, Plastics Solutions, Polystyrene, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, activated methyl methacrylates (MMA), PMMA resins, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction applications under the EMERGE, CALIBRE, PLEXIGLAS, ALTUGLAS, ACRYSPA, AVONITE, STUDIO, MEGOL, APILON, APIGO, and APINAT brands.