Steward Partners Investment Advisory LLC grew its stake in Trinseo PLC (NYSE:TSE – Get Rating) by 233.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the basic materials company’s stock after purchasing an additional 700 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Trinseo were worth $48,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. NorthCrest Asset Manangement LLC lifted its stake in shares of Trinseo by 1.2% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 18,920 shares of the basic materials company’s stock valued at $907,000 after purchasing an additional 220 shares during the last quarter. Ellevest Inc. lifted its stake in shares of Trinseo by 202.3% during the 1st quarter. Ellevest Inc. now owns 653 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 437 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Trinseo by 10.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,083 shares of the basic materials company’s stock worth $319,000 after acquiring an additional 560 shares during the last quarter. Bailard Inc. lifted its stake in shares of Trinseo by 4.9% during the 4th quarter. Bailard Inc. now owns 12,723 shares of the basic materials company’s stock worth $667,000 after acquiring an additional 600 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Trinseo by 0.8% during the 4th quarter. Public Sector Pension Investment Board now owns 79,106 shares of the basic materials company’s stock worth $4,150,000 after acquiring an additional 640 shares during the last quarter. 95.05% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, major shareholder M&G Investment Management Ltd sold 3,000 shares of the business’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $43.51, for a total transaction of $130,530.00. Following the transaction, the insider now directly owns 7,625,044 shares in the company, valued at approximately $331,765,664.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.20% of the stock is owned by company insiders.
Trinseo Trading Down 0.4 %
Trinseo (NYSE:TSE – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.35. Trinseo had a return on equity of 36.17% and a net margin of 7.37%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.38 billion. As a group, equities research analysts predict that Trinseo PLC will post 6.84 earnings per share for the current fiscal year.
Trinseo Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Investors of record on Thursday, July 7th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, July 6th. This represents a $1.28 annualized dividend and a yield of 3.72%. Trinseo’s dividend payout ratio (DPR) is 13.11%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on TSE. Morgan Stanley reissued an “equal weight” rating and set a $12.30 price target on shares of Trinseo in a research note on Monday, May 16th. Barclays decreased their price target on Trinseo from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, May 16th. ATB Capital raised their price objective on Trinseo from $5.50 to $6.25 and gave the stock an “outperform” rating in a report on Monday, May 16th. Fundamental Research restated a “buy” rating and set a $10.50 price objective on shares of Trinseo in a report on Tuesday, May 17th. Finally, Noble Financial restated a “buy” rating on shares of Trinseo in a report on Monday, May 16th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.42.
Trinseo Company Profile
Trinseo PLC, a materials solutions provider, manufactures and sells plastics and latex binders in the United States, Europe, the Asia-Pacific, and internationally. The company operates through six segments: Engineered Materials, Latex Binders, Base Plastics, Polystyrene, Feedstocks, and Americas Styrenics.
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