Mirae Asset Global Investments Co. Ltd. acquired a new stake in Trinseo PLC (NYSE:TSE – Get Rating) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,581 shares of the basic materials company’s stock, valued at approximately $445,000.
Several other hedge funds also recently bought and sold shares of TSE. NorthCrest Asset Manangement LLC lifted its stake in Trinseo by 1.2% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 18,920 shares of the basic materials company’s stock worth $907,000 after purchasing an additional 220 shares in the last quarter. Ellevest Inc. boosted its stake in Trinseo by 202.3% during the first quarter. Ellevest Inc. now owns 653 shares of the basic materials company’s stock valued at $31,000 after buying an additional 437 shares during the period. Strs Ohio purchased a new position in Trinseo during the first quarter worth about $565,000. UMB Bank N A MO bought a new position in Trinseo in the 1st quarter worth about $50,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Trinseo in the 1st quarter valued at about $667,000. Hedge funds and other institutional investors own 97.00% of the company’s stock.
Insiders Place Their Bets
In other news, Director Jeffrey J. Cote bought 10,000 shares of the stock in a transaction dated Monday, August 15th. The stock was bought at an average price of $31.76 per share, for a total transaction of $317,600.00. Following the purchase, the director now directly owns 30,117 shares in the company, valued at approximately $956,515.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Trinseo news, Director Jeanmarie F. Desmond acquired 1,335 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were acquired at an average price of $25.46 per share, for a total transaction of $33,989.10. Following the completion of the acquisition, the director now owns 5,665 shares in the company, valued at $144,230.90. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey J. Cote bought 10,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were acquired at an average cost of $31.76 per share, with a total value of $317,600.00. Following the purchase, 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. Company insiders own 1.50% of the company’s stock.
Trinseo Trading Up 1.8 %
NYSE TSE opened at $18.33 on Thursday. 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 PLC has a fifty-two week low of $17.54 and a fifty-two week high of $60.00. The stock has a market cap of $641.06 million, a P/E ratio of 2.64 and a beta of 1.41. The stock has a 50 day simple moving average of $22.92 and a two-hundred day simple moving average of $35.42.
Trinseo (NYSE:TSE – Get Rating) last issued its quarterly earnings data on Monday, August 8th. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.23). Trinseo had a net margin of 5.04% and a return on equity of 26.89%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.37 billion. On average, analysts forecast that Trinseo PLC will post 0.54 earnings per share for the current year.
Trinseo Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 20th. Shareholders of record on Thursday, October 6th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $1.28 annualized dividend and a yield of 6.98%. Trinseo’s dividend payout ratio (DPR) is presently 18.42%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on TSE shares. Citigroup dropped their price objective on shares of Trinseo from $34.00 to $20.00 in a report on Tuesday, October 4th. Barclays reduced their price target on shares of Trinseo from $35.00 to $22.00 in a research report on Tuesday, October 11th. TheStreet lowered shares of Trinseo from a “b-” rating to a “c+” rating in a report on Tuesday, August 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Trinseo from $34.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, September 27th. Finally, Morgan Stanley cut their price target on shares of Trinseo from $33.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Trinseo presently has an average rating of “Moderate Buy” and an average target price of $21.52.
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.
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