Lord Abbett & CO. LLC lessened its stake in shares of Trinseo S.A. (NYSE:TSE) by 14.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 825,856 shares of the basic materials company’s stock after selling 141,289 shares during the quarter. Lord Abbett & CO. LLC owned about 1.89% of Trinseo worth $56,736,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. acquired a new stake in Trinseo during the 2nd quarter valued at $103,000. Ameritas Investment Partners Inc. purchased a new position in shares of Trinseo during the 1st quarter worth $154,000. Royal Bank of Canada lifted its stake in shares of Trinseo by 47.7% during the 2nd quarter. Royal Bank of Canada now owns 2,611 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 843 shares during the period. Citigroup Inc. lifted its stake in shares of Trinseo by 10.7% during the 2nd quarter. Citigroup Inc. now owns 2,698 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 260 shares during the period. Finally, C M Bidwell & Associates Ltd. lifted its stake in shares of Trinseo by 57.9% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,905 shares of the basic materials company’s stock worth $200,000 after purchasing an additional 1,065 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.
In related news, insider Timothy M. Stedman sold 5,399 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $67.38, for a total value of $363,784.62. Following the completion of the sale, the insider now owns 18,298 shares of the company’s stock, valued at $1,232,919.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher D. Pappas sold 25,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 265,240 shares of the company’s stock, valued at approximately $18,842,649.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,399 shares of company stock worth $4,177,335. Insiders own 0.65% of the company’s stock.
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Trinseo S.A. (NYSE:TSE) traded down 1.47% on Friday, reaching $70.45. 640,768 shares of the company’s stock traded hands. The firm has a market capitalization of $3.08 billion, a PE ratio of 9.98 and a beta of 2.37. Trinseo S.A. has a 52-week low of $44.70 and a 52-week high of $73.40. The firm’s 50 day moving average price is $68.75 and its 200 day moving average price is $66.44.
Trinseo (NYSE:TSE) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by ($0.41). The firm had revenue of $1.15 billion during 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%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.30 EPS. On average, analysts predict 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 2.04%. The ex-dividend date was Friday, October 6th. Trinseo’s payout ratio is 20.34%.
Several brokerages recently issued reports on TSE. Zacks Investment Research upgraded Trinseo from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Wednesday, October 11th. Jefferies Group LLC restated a “buy” rating and set a $82.00 target price on shares of Trinseo in a research note on Tuesday, August 29th. Citigroup Inc. lowered their target price on Trinseo from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, August 7th. BidaskClub downgraded Trinseo from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Barclays PLC cut their target price on shares of Trinseo from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price 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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