New York State Teachers Retirement System reduced its stake in Trinseo S.A. (NYSE:TSE) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400 shares of the basic materials company’s stock after selling 100 shares during the period. New York State Teachers Retirement System’s holdings in Trinseo were worth $161,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new position in shares of Trinseo during the first quarter valued at about $154,000. Ronald Blue & Co. LLC purchased a new position in shares of Trinseo during the first quarter valued at about $205,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Trinseo during the first quarter valued at about $208,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Trinseo during the first quarter valued at about $231,000. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Trinseo during the first quarter valued at about $246,000.
Trinseo S.A. (NYSE TSE) traded up 1.02% during mid-day trading on Friday, hitting $59.35. The company had a trading volume of 840,051 shares. The firm has a market capitalization of $2.60 billion, a PE ratio of 8.41 and a beta of 2.38. The company has a 50 day moving average of $67.82 and a 200 day moving average of $67.06. Trinseo S.A. has a 1-year low of $44.70 and a 1-year high of $72.60.
Trinseo (NYSE:TSE) last announced its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by $0.41. The company had revenue of $1.15 billion for 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%. Trinseo’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the firm earned $2.30 earnings per share. Analysts predict that Trinseo S.A. will post $6.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th were paid a dividend of $0.36 per share. This is a positive change from Trinseo’s previous quarterly dividend of $0.30. This represents a $1.44 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, July 7th. Trinseo’s dividend payout ratio is presently 20.34%.
Trinseo declared that its board has approved a share repurchase plan on Thursday, June 22nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
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Several research analysts have recently issued reports on the company. Citigroup Inc. increased their target price on Trinseo from $67.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Trinseo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 19th. Barclays PLC cut their price target on Trinseo from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Friday, August 4th. BidaskClub downgraded Trinseo from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $82.00 price target on shares of Trinseo in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Trinseo presently has a consensus rating of “Hold” and an average price target of $75.80.
In related news, insider Christopher D. Pappas sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $67.24, for a total transaction of $1,344,800.00. Following the completion of the transaction, the insider now owns 260,240 shares of the company’s stock, valued at approximately $17,498,537.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher D. Pappas sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $71.04, for a total transaction of $1,776,000.00. Following the completion of the sale, the insider now owns 265,240 shares in the company, valued at $18,842,649.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,000 shares of company stock worth $6,138,050. Corporate insiders own 0.65% of the company’s stock.
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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