Principal Financial Group Inc. cut its stake in Trinseo S.A. (NYSE:TSE) by 15.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,518 shares of the basic materials company’s stock after selling 63,395 shares during the quarter. Principal Financial Group Inc. owned 0.79% of Trinseo worth $23,184,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Teachers Advisors LLC boosted its position in Trinseo by 0.4% during the 1st quarter. Teachers Advisors LLC now owns 64,832 shares of the basic materials company’s stock worth $4,350,000 after acquiring an additional 245 shares during the last quarter. Legal & General Group Plc boosted its position in Trinseo by 44.5% during the 1st quarter. Legal & General Group Plc now owns 15,812 shares of the basic materials company’s stock worth $1,059,000 after acquiring an additional 4,872 shares during the last quarter. BlackRock Inc. boosted its position in Trinseo by 80,972.2% during the 1st quarter. BlackRock Inc. now owns 2,152,468 shares of the basic materials company’s stock worth $144,430,000 after acquiring an additional 2,149,813 shares during the last quarter. Amalgamated Bank acquired a new position in Trinseo during the 1st quarter worth approximately $224,000. Finally, State Street Corp boosted its position in Trinseo by 1.3% during the 1st quarter. State Street Corp now owns 571,029 shares of the basic materials company’s stock worth $38,323,000 after acquiring an additional 7,094 shares during the last quarter. 96.92% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on TSE shares. Zacks Investment Research upgraded Trinseo from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Wednesday, October 11th. Jefferies Group restated a “buy” rating and issued a $82.00 price target on shares of Trinseo in a research report on Tuesday, August 29th. Barclays raised their price target on Trinseo from $73.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 7th. BidaskClub cut Trinseo from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, ValuEngine upgraded Trinseo from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $77.00.
Shares of Trinseo S.A. (NYSE TSE) traded up $1.50 during mid-day trading on Thursday, hitting $70.10. The stock had a trading volume of 361,344 shares, compared to its average volume of 591,478. Trinseo S.A. has a 12-month low of $57.70 and a 12-month high of $75.20. The firm has a market capitalization of $3,009.07, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 1.13 and a beta of 2.33. The company has a quick ratio of 1.78, a current ratio of 2.59 and a debt-to-equity ratio of 2.05.
Trinseo (NYSE:TSE) last issued its earnings results on Thursday, November 2nd. The basic materials company reported $2.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.04). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. Trinseo had a return on equity of 65.80% and a net margin of 6.78%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.70 earnings per share. analysts forecast that Trinseo S.A. will post 7.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 23rd. Stockholders of record on Tuesday, January 9th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.44 annualized dividend and a dividend yield of 2.05%. Trinseo’s dividend payout ratio is 22.54%.
In other news, insider David Phillip Stasse sold 10,043 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $71.17, for a total transaction of $714,760.31. Following the completion of the sale, the insider now owns 28,684 shares in the company, valued at $2,041,440.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.
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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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