ProShare Advisors LLC increased its position in shares of Trinseo S.A. (NYSE:TSE) by 22.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,989 shares of the basic materials company’s stock after buying an additional 739 shares during the period. ProShare Advisors LLC’s holdings in Trinseo were worth $274,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. bought a new stake in shares of Trinseo in the 2nd quarter worth about $103,000. Ameritas Investment Partners Inc. bought a new stake in shares of Trinseo in the 1st quarter worth about $154,000. Laurion Capital Management LP bought a new stake in shares of Trinseo in the 2nd quarter worth about $220,000. Ronald Blue & Co. LLC increased its position in shares of 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 during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Trinseo by 91.4% in the 2nd quarter. SG Americas Securities LLC now owns 3,280 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 1,566 shares during the last quarter. 97.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Timothy M. Stedman sold 5,399 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $67.38, for a total value of $363,784.62. Following the completion of the transaction, the insider now owns 18,298 shares in the company, valued at approximately $1,232,919.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey J. Cote sold 5,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $65.01, for a total transaction of $325,050.00. Following the completion of the transaction, the director now owns 15,640 shares of the company’s stock, valued at approximately $1,016,756.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,399 shares of company stock valued at $4,177,335. Corporate insiders own 0.65% of the company’s stock.
Trinseo (NYSE:TSE) last announced its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.41). Trinseo had a net margin of 7.88% and a return on equity of 67.05%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company posted $2.30 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, October 6th. Trinseo’s dividend payout ratio is 20.34%.
Trinseo announced that its Board of Directors has initiated a share repurchase program on Thursday, June 22nd that permits the company to buyback 2,000,000 shares. This buyback authorization permits the basic materials company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
Several research firms have recently weighed in on TSE. Alembic Global Advisors reissued a “buy” rating on shares of Trinseo in a research report on Tuesday, September 5th. Jefferies Group LLC reissued a “buy” rating and issued a $82.00 target price on shares of Trinseo in a research report on Tuesday, August 29th. Zacks Investment Research raised shares of Trinseo from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Wednesday. Citigroup Inc. boosted their target price on shares of Trinseo from $67.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 12th. Finally, Barclays PLC dropped their target price on shares of Trinseo from $75.00 to $73.00 and set an “equal weight” rating for the company in a research report on Friday, August 4th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Trinseo currently has an average rating of “Buy” and an average price target of $74.80.
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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