Citigroup Inc. Boosts Trinseo S.A. (TSE) Price Target to $70.00
Trinseo S.A. (NYSE:TSE) had its price objective upped by Citigroup Inc. from $67.00 to $70.00 in a research note released on Wednesday. The brokerage currently has a neutral rating on the basic materials company’s stock.
Several other research analysts have also weighed in on TSE. Jefferies Group LLC restated a buy rating and set a $82.00 price objective on shares of Trinseo in a research note on Thursday, March 30th. BidaskClub upgraded shares of Trinseo from a hold rating to a buy rating in a research note on Wednesday, July 5th. Finally, Zacks Investment Research lowered shares of Trinseo from a strong-buy rating to a hold rating in a research note on Wednesday, April 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $69.00.
Trinseo (NYSE:TSE) remained flat at $70.50 during trading on Wednesday. The company’s stock had a trading volume of 104,791 shares. The company has a 50-day moving average price of $65.43 and a 200 day moving average price of $65.64. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 9.14 and a beta of 2.40. Trinseo has a 52 week low of $44.70 and a 52 week high of $72.60.
Trinseo (NYSE:TSE) last released its quarterly earnings data on Tuesday, May 2nd. The basic materials company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.15. The company had revenue of $1.10 billion for the quarter. Trinseo had a net margin of 9.14% and a return on equity of 80.69%. Equities analysts predict that Trinseo will post $7.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Tuesday, July 11th will be paid a $0.36 dividend. This is an increase from Trinseo’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, July 7th. This represents a $1.44 annualized dividend and a yield of 2.04%. Trinseo’s dividend payout ratio is presently 18.60%.
Trinseo declared that its Board of Directors has approved a stock buyback plan on Thursday, June 22nd that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the basic materials company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Trinseo news, insider Christopher D. Pappas sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the completion of the transaction, the insider now directly owns 260,240 shares in the company, valued at approximately $16,655,360. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher D. Pappas sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $66.28, for a total transaction of $994,200.00. Following the completion of the transaction, the insider now owns 255,240 shares of the company’s stock, valued at $16,917,307.20. The disclosure for this sale can be found here. In the last three months, insiders sold 100,000 shares of company stock valued at $6,657,650. 0.65% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in Trinseo by 5.6% in the first quarter. Envestnet Asset Management Inc. now owns 4,004 shares of the basic materials company’s stock valued at $269,000 after buying an additional 213 shares during the period. Teachers Advisors LLC boosted its stake in Trinseo by 0.4% in the first quarter. Teachers Advisors LLC now owns 64,832 shares of the basic materials company’s stock valued at $4,350,000 after buying an additional 245 shares during the period. Premier Fund Managers Ltd boosted its stake in Trinseo by 0.6% in the first quarter. Premier Fund Managers Ltd now owns 42,328 shares of the basic materials company’s stock valued at $2,807,000 after buying an additional 248 shares during the period. Adams Diversified Equity Fund Inc. boosted its stake in Trinseo by 2.6% in the first quarter. Adams Diversified Equity Fund Inc. now owns 16,000 shares of the basic materials company’s stock valued at $1,074,000 after buying an additional 400 shares during the period. Finally, Parkwood LLC boosted its stake in Trinseo by 21.9% in the first quarter. Parkwood LLC now owns 4,196 shares of the basic materials company’s stock valued at $282,000 after buying an additional 754 shares during the period.
Trinseo Company Profile
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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