Trinseo S.A. (NYSE:TSE) Shares Bought by Macquarie Group Ltd.
Macquarie Group Ltd. boosted its position in Trinseo S.A. (NYSE:TSE) by 15.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,302,654 shares of the basic materials company’s stock after purchasing an additional 178,450 shares during the quarter. Macquarie Group Ltd. owned about 2.98% of Trinseo worth $89,492,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of TSE. Daiwa Securities Group Inc. bought a new stake in Trinseo in the 2nd quarter valued at about $103,000. Ameritas Investment Partners Inc. bought a new stake in Trinseo in the 1st quarter valued at about $154,000. Royal Bank of Canada lifted its position in Trinseo by 47.7% in the 2nd quarter. Royal Bank of Canada now owns 2,611 shares of the basic materials company’s stock valued at $179,000 after purchasing an additional 843 shares during the last quarter. Citigroup Inc. lifted its position in Trinseo by 10.7% in the 2nd quarter. Citigroup Inc. now owns 2,698 shares of the basic materials company’s stock valued at $185,000 after purchasing an additional 260 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Trinseo by 14.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,203 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 97.81% of the company’s stock.
In other Trinseo news, insider Timothy M. Stedman sold 5,399 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $67.38, for a total value of $363,784.62. Following the sale, the insider now owns 18,298 shares of the company’s stock, valued at approximately $1,232,919.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey J. Cote sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $65.01, for a total value of $325,050.00. Following the completion of the sale, the director now directly owns 15,640 shares in the company, valued at approximately $1,016,756.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,399 shares of company stock worth $4,177,335. Insiders own 0.65% of the company’s stock.
Trinseo S.A. (TSE) traded up 5.62% during mid-day trading on Friday, reaching $71.40. 1,649,949 shares of the company’s stock were exchanged. The company has a market cap of $3.13 billion, a PE ratio of 10.11 and a beta of 2.37. Trinseo S.A. has a 52-week low of $44.70 and a 52-week high of $72.60. The stock has a 50-day moving average price of $67.55 and a 200 day moving average price of $66.18.
Trinseo (NYSE:TSE) last issued its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.41). The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Trinseo had a return on equity of 67.05% and a net margin of 7.88%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the company posted $2.30 EPS. Equities analysts predict that Trinseo S.A. will post $6.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.44 dividend on an annualized basis and a yield of 2.02%. Trinseo’s dividend payout ratio (DPR) is 20.34%.
Trinseo declared that its Board of Directors has approved a stock repurchase plan on Thursday, June 22nd that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the basic materials company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
A number of research firms have commented on TSE. Alembic Global Advisors restated a “buy” rating on shares of Trinseo in a research report on Tuesday, September 5th. Jefferies Group LLC restated a “buy” rating and set a $82.00 price target on shares of Trinseo in a research report on Tuesday, August 29th. Zacks Investment Research upgraded shares of Trinseo from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Wednesday. Citigroup Inc. boosted their target price on shares of Trinseo from $67.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, July 12th. Finally, Barclays PLC dropped their target price on shares of Trinseo from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $74.80.
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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