Comerica Bank Takes $352,000 Position in Trinseo S.A. (TSE)
Comerica Bank acquired a new position in shares of Trinseo S.A. (NYSE:TSE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,286 shares of the basic materials company’s stock, valued at approximately $352,000.
Other hedge funds also recently added to or reduced their stakes in the company. Group One Trading L.P. boosted its holdings in Trinseo by 133.3% during the third quarter. Group One Trading L.P. now owns 2,220 shares of the basic materials company’s stock worth $174,000 after buying an additional 8,879 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Trinseo during the third quarter worth about $200,000. Jefferies Group LLC boosted its holdings in Trinseo by 1,498.4% during the third quarter. Jefferies Group LLC now owns 3,005 shares of the basic materials company’s stock worth $235,000 after buying an additional 2,817 shares in the last quarter. First Mercantile Trust Co. boosted its holdings in Trinseo by 11.8% during the fourth quarter. First Mercantile Trust Co. now owns 3,800 shares of the basic materials company’s stock worth $174,000 after buying an additional 400 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Trinseo during the third quarter worth about $388,000. 96.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TSE opened at $46.74 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.04 and a debt-to-equity ratio of 1.51. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 0.58 and a beta of 2.10. Trinseo S.A. has a 12-month low of $42.10 and a 12-month high of $82.18.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, April 11th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Wednesday, April 10th. Trinseo’s payout ratio is currently 22.07%.
TSE has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Trinseo from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. ValuEngine raised shares of Trinseo from a “strong sell” rating to a “sell” rating in a report on Friday, March 1st. Citigroup set a $58.00 price objective on shares of Trinseo and gave the stock a “buy” rating in a report on Friday, February 15th. Deutsche Bank cut their target price on shares of Trinseo to $55.00 and set a “buy” rating for the company in a research report on Wednesday, January 23rd. Finally, Alembic Global Advisors set a $75.00 target price on shares of Trinseo and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $67.50.
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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