Trinseo (NYSE:TSE) Shares Up 6.8%

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Trinseo S.A. (NYSE:TSE)’s stock price shot up 6.8% during trading on Friday . The company traded as high as $43.12 and last traded at $42.28, 554,400 shares were traded during trading. An increase of 24% from the average session volume of 447,812 shares. The stock had previously closed at $39.59.

A number of research firms have recently commented on TSE. ValuEngine raised shares of Trinseo from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Goldman Sachs Group downgraded shares of Trinseo from a “neutral” rating to a “sell” rating in a report on Wednesday, July 17th. Barclays set a $40.00 price objective on shares of Trinseo and gave the stock a “hold” rating in a report on Monday, September 9th. Deutsche Bank raised their price objective on shares of Trinseo from $38.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Zacks Investment Research downgraded shares of Trinseo from a “hold” rating to a “strong sell” rating in a report on Thursday, July 4th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Trinseo has an average rating of “Hold” and a consensus price target of $48.57.

The stock has a market capitalization of $1.59 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.88 and a beta of 1.97. The firm’s fifty day moving average is $38.94 and its 200-day moving average is $40.25. The company has a current ratio of 2.83, a quick ratio of 2.04 and a debt-to-equity ratio of 1.63.

Trinseo (NYSE:TSE) last announced its quarterly earnings results on Thursday, August 8th. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.63). Trinseo had a net margin of 3.25% and a return on equity of 22.71%. The firm had revenue of $951.80 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $2.40 earnings per share. The company’s revenue for the quarter was down 23.0% on a year-over-year basis. Equities research analysts expect that Trinseo S.A. will post 3.74 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.78%. The ex-dividend date is Wednesday, October 9th. Trinseo’s dividend payout ratio is currently 22.07%.

In other news, insider Frank A. Bozich purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $28.97 per share, with a total value of $434,550.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in TSE. Aperio Group LLC grew its position in shares of Trinseo by 3.1% during the 2nd quarter. Aperio Group LLC now owns 13,515 shares of the basic materials company’s stock worth $572,000 after buying an additional 411 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Trinseo during the 3rd quarter worth approximately $36,000. Comerica Bank grew its position in shares of Trinseo by 10.9% during the 2nd quarter. Comerica Bank now owns 8,856 shares of the basic materials company’s stock worth $327,000 after buying an additional 870 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Trinseo during the 2nd quarter worth approximately $42,000. Finally, Nordea Investment Management AB grew its position in shares of Trinseo by 1.3% during the 1st quarter. Nordea Investment Management AB now owns 87,494 shares of the basic materials company’s stock worth $3,963,000 after buying an additional 1,154 shares during the period. 96.58% of the stock is owned by institutional investors.

About Trinseo (NYSE:TSE)

Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in Europe, the United States, the Asia-Pacific, and internationally. The company operates through six segments: Latex Binders, Synthetic Rubber, Performance Plastics, Polystyrene, Feedstocks, and Americas Styrenics.

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