Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Trinseo PLC (NYSE:TSE – Get Rating) by 59.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,887 shares of the basic materials company’s stock after purchasing an additional 2,186 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Trinseo were worth $226,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Teacher Retirement System of Texas lifted its stake in shares of Trinseo by 5.9% in the 1st quarter. Teacher Retirement System of Texas now owns 6,427 shares of the basic materials company’s stock valued at $308,000 after acquiring an additional 357 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Trinseo by 3.6% in the 2nd quarter. Exchange Traded Concepts LLC now owns 14,423 shares of the basic materials company’s stock worth $555,000 after purchasing an additional 506 shares during the period. Meeder Asset Management Inc. lifted its position in Trinseo by 1,800.0% in the first quarter. Meeder Asset Management Inc. now owns 551 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 522 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Trinseo by 233.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 700 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Trinseo by 8.0% during the first quarter. Royce & Associates LP now owns 10,143 shares of the basic materials company’s stock valued at $486,000 after purchasing an additional 747 shares during the period. 97.00% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Citigroup upped their price target on shares of Trinseo to $24.00 in a report on Tuesday, November 15th. TheStreet cut Trinseo from a “c” rating to a “d+” rating in a research note on Thursday, November 3rd. StockNews.com assumed coverage on Trinseo in a report on Wednesday, October 12th. They set a “sell” rating on the stock. Barclays increased their price objective on Trinseo from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, November 14th. Finally, Morgan Stanley reduced their target price on Trinseo from $33.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Trinseo currently has a consensus rating of “Moderate Buy” and an average target price of $22.43.
Insiders Place Their Bets
Trinseo Stock Performance
Shares of TSE stock opened at $24.66 on Thursday. The company’s fifty day moving average price is $21.21 and its 200-day moving average price is $31.84. The stock has a market cap of $862.46 million, a PE ratio of 20.90 and a beta of 1.40. The company has a current ratio of 2.19, a quick ratio of 1.33 and a debt-to-equity ratio of 3.29. Trinseo PLC has a 12 month low of $17.54 and a 12 month high of $59.73.
Trinseo Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 20th. Investors of record on Thursday, October 6th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 5.19%. The ex-dividend date was Wednesday, October 5th. Trinseo’s payout ratio is currently 108.47%.
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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