First Midwest Bank Trust Division acquired a new position in shares of Trinseo S.A. (NYSE:TSE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,218 shares of the basic materials company’s stock, valued at approximately $887,000.
A number of other large investors have also bought and sold shares of the stock. Prudential PLC boosted its stake in Trinseo by 105.0% during the second quarter. Prudential PLC now owns 2,951,277 shares of the basic materials company’s stock worth $202,753,000 after acquiring an additional 1,511,738 shares in the last quarter. BlackRock Inc. boosted its stake in Trinseo by 35.5% during the second quarter. BlackRock Inc. now owns 2,917,369 shares of the basic materials company’s stock worth $200,423,000 after acquiring an additional 764,901 shares in the last quarter. Vanguard Group Inc. boosted its stake in Trinseo by 3.0% during the second quarter. Vanguard Group Inc. now owns 2,267,174 shares of the basic materials company’s stock worth $155,754,000 after acquiring an additional 65,208 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Trinseo by 6.0% during the second quarter. Alliancebernstein L.P. now owns 1,849,959 shares of the basic materials company’s stock worth $127,092,000 after acquiring an additional 103,912 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Trinseo by 24.9% during the second quarter. LSV Asset Management now owns 1,476,620 shares of the basic materials company’s stock worth $101,443,000 after acquiring an additional 294,600 shares in the last quarter. 97.82% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on TSE. Citigroup Inc. upped their target price on shares of Trinseo from $67.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 12th. Deutsche Bank AG reiterated a “buy” rating and issued a $74.00 target price (up previously from $72.00) on shares of Trinseo in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Trinseo from a “hold” rating to a “strong-buy” rating and set a $82.00 target price on the stock in a research note on Friday, July 21st. Alembic Global Advisors reiterated a “buy” rating on shares of Trinseo in a research note on Tuesday, September 5th. Finally, BidaskClub upgraded shares of Trinseo from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Trinseo presently has an average rating of “Buy” and a consensus price target of $74.80.
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In other news, insider Christopher D. Pappas sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $71.04, for a total value of $1,776,000.00. Following the sale, the insider now directly owns 265,240 shares in the company, valued at approximately $18,842,649.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy M. Stedman sold 5,399 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $67.38, for a total transaction of $363,784.62. Following the completion of the sale, the insider now owns 18,298 shares in the company, valued at $1,232,919.24. The disclosure for this sale can be found here. Insiders sold a total of 60,399 shares of company stock worth $4,177,335 over the last 90 days. Company insiders own 0.26% of the company’s stock.
Shares of Trinseo S.A. (NYSE TSE) traded up 0.21% on Tuesday, hitting $70.55. 49,410 shares of the stock traded hands. Trinseo S.A. has a 52-week low of $44.70 and a 52-week high of $73.40. The stock has a market cap of $3.09 billion, a P/E ratio of 9.99 and a beta of 2.37. The stock’s 50 day moving average price is $69.04 and its 200 day moving average price is $66.52.
Trinseo (NYSE:TSE) last released its quarterly earnings results 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). Trinseo had a net margin of 7.88% and a return on equity of 67.05%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business posted $2.30 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities analysts expect that Trinseo S.A. will post $7.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, October 6th. Trinseo’s dividend payout ratio is currently 20.34%.
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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