Shares of Trinseo PLC (NYSE:TSE – Get Rating) hit a new 52-week low on Wednesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $34.00 to $22.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Trinseo traded as low as $18.57 and last traded at $19.32, with a volume of 450433 shares traded. The stock had previously closed at $18.74.
Several other research analysts have also issued reports on TSE. TheStreet lowered shares of Trinseo from a “b-” rating to a “c+” rating in a report on Tuesday, August 16th. Barclays dropped their target price on shares of Trinseo from $53.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 10th. StockNews.com lowered Trinseo from a “hold” rating to a “sell” rating in a research report on Tuesday, September 6th. Jefferies Financial Group lowered their target price on Trinseo from $70.00 to $54.00 in a report on Thursday, June 16th. Finally, Morgan Stanley reduced their price objective on shares of Trinseo from $47.00 to $33.00 and set an “equal weight” rating for the company in a research report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.28.
Insider Buying and Selling at Trinseo
In related news, major shareholder M&G Investment Management Ltd sold 3,000 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $43.51, for a total value of $130,530.00. Following the completion of the transaction, the insider now owns 7,625,044 shares in the company, valued at approximately $331,765,664.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder M&G Investment Management Ltd sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $43.51, for a total transaction of $130,530.00. Following the transaction, the insider now directly owns 7,625,044 shares in the company, valued at approximately $331,765,664.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey J. Cote acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was acquired at an average price of $31.76 per share, for a total transaction of $317,600.00. Following the completion of the acquisition, the director now directly owns 30,117 shares of the company’s stock, valued at approximately $956,515.92. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.
Institutional Investors Weigh In On Trinseo
Several hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. increased its stake in shares of Trinseo by 1,800.0% during the 1st quarter. Meeder Asset Management Inc. now owns 551 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 522 shares in the last quarter. Ellevest Inc. boosted its position in Trinseo by 202.3% during the first quarter. Ellevest Inc. now owns 653 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 437 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Trinseo by 233.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 700 shares during the last quarter. UMB Bank N A MO acquired a new stake in Trinseo during the first quarter worth approximately $50,000. Finally, Citizens National Bank Trust Department acquired a new position in shares of Trinseo in the 4th quarter valued at $73,000. Institutional investors and hedge funds own 97.00% of the company’s stock.
Trinseo Stock Performance
The company has a market cap of $675.68 million, a price-to-earnings ratio of 2.78 and a beta of 1.32. The stock’s fifty day simple moving average is $29.89 and its two-hundred day simple moving average is $39.70. The company has a debt-to-equity ratio of 2.49, a quick ratio of 1.34 and a current ratio of 2.22.
Trinseo (NYSE:TSE – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The basic materials company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.23). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.37 billion. Trinseo had a net margin of 5.04% and a return on equity of 26.89%. Equities research analysts anticipate that Trinseo PLC will post 4.94 EPS for the current year.
Trinseo Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Thursday, October 6th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend is Wednesday, October 5th. Trinseo’s dividend payout ratio is presently 18.42%.
Trinseo Company Profile
Trinseo PLC, a materials solutions provider, manufactures and sells plastics and latex binders in the United States, Europe, the Asia-Pacific, and internationally. The company operates through six segments: Engineered Materials, Latex Binders, Base Plastics, Polystyrene, Feedstocks, and Americas Styrenics.