Texas Permanent School Fund Cuts Stock Holdings in Trinseo PLC (NYSE:TSE)

Texas Permanent School Fund cut its holdings in Trinseo PLC (NYSE:TSE – Get Rating) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,395 shares of the basic materials company’s stock after selling 1,674 shares during the quarter. Texas Permanent School Fund’s holdings in Trinseo were worth $531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Trinseo by 3.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,151 shares of the basic materials company’s stock worth $621,000 after acquiring an additional 510 shares during the last quarter. First Republic Investment Management Inc. lifted its position in Trinseo by 3.2% during the second quarter. First Republic Investment Management Inc. now owns 18,138 shares of the basic materials company’s stock valued at $698,000 after purchasing an additional 567 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Trinseo by 23.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,287 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 813 shares during the period. Captrust Financial Advisors increased its position in Trinseo by 40.5% in the first quarter. Captrust Financial Advisors now owns 4,414 shares of the basic materials company’s stock worth $212,000 after buying an additional 1,272 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Trinseo by 1,099.2% in the third quarter. CWM LLC now owns 1,451 shares of the basic materials company’s stock worth $27,000 after buying an additional 1,330 shares during the period. 90.42% of the stock is owned by institutional investors.

Trinseo Trading Up 5.7 %

Trinseo stock opened at $14.51 on Thursday. Trinseo PLC has a 1 year low of $12.77 and a 1 year high of $49.29. The firm’s 50 day moving average price is $19.01 and its 200-day moving average price is $22.80. The company has a debt-to-equity ratio of 6.11, a current ratio of 1.92 and a quick ratio of 1.22. The stock has a market cap of $510.03 million, a P/E ratio of -1.02 and a beta of 1.50.

Trinseo (NYSE:TSE – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The basic materials company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.38). The company had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.14 billion. Trinseo had a negative net margin of 10.85% and a negative return on equity of 21.78%. On average, equities analysts predict that Trinseo PLC will post -0.12 earnings per share for the current fiscal year.

Trinseo Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 20th. Investors of record on Thursday, April 6th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.86%. Trinseo’s dividend payout ratio is currently -3.93%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays cut their price objective on Trinseo from $25.00 to $16.00 in a research note on Sunday. Citigroup dropped their price target on shares of Trinseo from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, February 13th. Finally, StockNews.com assumed coverage on shares of Trinseo in a research report on Thursday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.60.

Trinseo Profile

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Trinseo Plc engages in the manufacture and sale of plastics and latex binders. It operates through the following segments: Engineered Materials, Latex Binders, Base Plastics, Polystyrene, Feedstocks, and Americas Styrenics. The Engineered Materials segment produces rigid thermoplastic compounds and blends products, soft thermoplastic products, and cast and sheet products.