New York State Teachers Retirement System cut its position in Trinseo S.A. (NYSE:TSE) by 4.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Trinseo during the first quarter worth about $2,417,000. Hennessy Advisors Inc. bought a new position in shares of Trinseo during the first quarter worth about $3,778,000. Breton Hill Capital Ltd. boosted its position in shares of Trinseo by 83.4% in the first quarter. Breton Hill Capital Ltd. now owns 31,150 shares of the basic materials company’s stock worth $2,090,000 after buying an additional 14,169 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Trinseo during the first quarter worth about $402,000. Finally, First Mercantile Trust Co. bought a new position in shares of Trinseo during the first quarter worth about $315,000. Institutional investors and hedge funds own 97.55% of the company’s stock.
Shares of Trinseo S.A. (TSE) opened at 59.70 on Friday. The firm has a 50 day moving average price of $66.75 and a 200-day moving average price of $66.86. The firm has a market cap of $2.61 billion, a PE ratio of 8.46 and a beta of 2.38. Trinseo S.A. has a 12 month low of $44.70 and a 12 month high of $72.60.
Trinseo (NYSE:TSE) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.80 by $0.41. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. Trinseo had a return on equity of 67.05% and a net margin of 7.88%. Trinseo’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the company posted $2.30 EPS. On average, analysts predict that Trinseo S.A. will post $6.70 EPS for the current fiscal year.
Trinseo declared that its board has approved a share repurchase program on Thursday, June 22nd that allows the company to buyback 2,000,000 shares. This buyback authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th were issued a $0.36 dividend. This is a boost from Trinseo’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, July 7th. This represents a $1.44 annualized dividend and a dividend yield of 2.41%. Trinseo’s dividend payout ratio (DPR) is presently 20.34%.
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A number of equities analysts recently issued reports on the company. BidaskClub upgraded Trinseo from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded Trinseo from a “hold” rating to a “strong-buy” rating and set a $82.00 price target on the stock in a report on Friday, July 21st. Citigroup Inc. lifted their price target on Trinseo from $67.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 12th. Barclays PLC lowered their price target on Trinseo from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $82.00 price target on shares of Trinseo in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $75.80.
In other news, insider Christopher D. Pappas sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 265,240 shares in the company, valued at approximately $18,431,527.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher D. Pappas sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $67.24, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 70,000 shares of company stock valued at $4,858,050 in the last 90 days. 0.65% of the stock is owned by corporate insiders.
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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