State of Alaska Department of Revenue lessened its holdings in Trinseo S.A. (NYSE:TSE) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,017 shares of the basic materials company’s stock after selling 3,800 shares during the quarter. State of Alaska Department of Revenue owned 0.07% of Trinseo worth $1,656,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Valeo Financial Advisors LLC acquired a new stake in shares of Trinseo in the 4th quarter valued at $26,000. Lazard Asset Management LLC acquired a new stake in shares of Trinseo in the 4th quarter valued at $31,000. Wolff Wiese Magana LLC acquired a new stake in shares of Trinseo in the 4th quarter valued at $40,000. Evolution Wealth Advisors LLC acquired a new stake in shares of Trinseo in the 4th quarter valued at $51,000. Finally, Veriti Management LLC acquired a new stake in shares of Trinseo in the 4th quarter valued at $82,000. 94.77% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder M&G Investment Management Ltd sold 3,000 shares of Trinseo stock in a transaction dated Monday, February 1st. The stock was sold at an average price of $52.24, for a total value of $156,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Bernard M. Skeete sold 2,674 shares of Trinseo stock in a transaction dated Friday, February 26th. The stock was sold at an average price of $64.81, for a total value of $173,301.94. Over the last ninety days, insiders have sold 82,844 shares of company stock valued at $5,364,097. 2.20% of the stock is owned by corporate insiders.
Trinseo (NYSE:TSE) last announced its earnings results on Wednesday, February 3rd. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.06. The business had revenue of $860.20 million during the quarter, compared to analyst estimates of $797.11 million. Trinseo had a positive return on equity of 3.70% and a negative net margin of 1.74%. Trinseo’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. As a group, equities analysts forecast that Trinseo S.A. will post 1.96 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 22nd. Investors of record on Thursday, April 8th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, April 7th. Trinseo’s dividend payout ratio is currently 10.22%.
A number of brokerages have weighed in on TSE. Zacks Investment Research downgraded Trinseo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 8th. Citigroup increased their price target on Trinseo from $54.00 to $60.00 in a research note on Monday, February 8th. Finally, Alembic Global Advisors increased their price target on Trinseo from $60.00 to $80.00 in a research note on Monday, March 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Trinseo has an average rating of “Hold” and a consensus price target of $49.29.
Trinseo Company Profile
Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in the United States, Europe, 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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