Alliancebernstein L.P. grew its position in Trinseo S.A. (NYSE:TSE) by 6.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,849,959 shares of the basic materials company’s stock after acquiring an additional 103,912 shares during the period. Alliancebernstein L.P. owned about 4.21% of Trinseo worth $127,092,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. acquired a new position in shares of Trinseo in the second quarter worth about $103,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Trinseo during the first quarter worth about $154,000. Ronald Blue & Co. LLC purchased a new stake in shares of Trinseo during the first quarter worth about $205,000. Amalgamated Bank purchased a new stake in shares of Trinseo during the first quarter worth about $224,000. Finally, SG Americas Securities LLC increased its stake in shares of Trinseo by 91.4% during the second quarter. SG Americas Securities LLC now owns 3,280 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 1,566 shares in the last quarter. Institutional investors and hedge funds own 97.82% of the company’s stock.
TSE has been the subject of several research reports. Citigroup Inc. dropped their price objective on shares of Trinseo from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, August 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Trinseo in a research note on Tuesday, August 29th. BidaskClub cut shares of Trinseo from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of Trinseo from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Barclays PLC dropped their price objective on shares of Trinseo from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $75.80.
In other Trinseo news, Director Jeffrey J. Cote sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $65.01, for a total transaction of $325,050.00. Following the transaction, the director now owns 15,640 shares in the company, valued at $1,016,756.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher D. Pappas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $69.49, for a total value of $1,737,250.00. Following the transaction, the insider now owns 265,240 shares in the company, valued at approximately $18,431,527.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,399 shares of company stock worth $5,914,585. Corporate insiders own 0.65% of the company’s stock.
Shares of Trinseo S.A. (NYSE TSE) traded up 0.74% during trading on Friday, hitting $68.00. 632,238 shares of the stock traded hands. The company’s 50 day moving average is $64.69 and its 200 day moving average is $66.36. Trinseo S.A. has a 52-week low of $44.70 and a 52-week high of $72.60. The firm has a market cap of $2.98 billion, a PE ratio of 9.63 and a beta of 2.39.
Trinseo (NYSE:TSE) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.41). Trinseo had a net margin of 7.88% and a return on equity of 67.05%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $2.30 EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts predict that Trinseo S.A. will post $6.63 EPS for the current year.
Trinseo announced that its board has authorized a stock repurchase plan on Thursday, June 22nd that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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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