Trinseo PLC (TSE) To Go Ex-Dividend on January 3rd

Trinseo PLC (NYSE:TSE) announced a quarterly dividend on Thursday, November 16th, Wall Street Journal reports. Shareholders of record on Thursday, January 4th will be paid a dividend of 0.01 per share by the basic materials company on Thursday, January 18th. This represents a $0.04 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Wednesday, January 3rd.

Trinseo has decreased its dividend by an average of 7.2% per year over the last three years. Trinseo has a dividend payout ratio of -2.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Trinseo to earn ($2.05) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -2.0%.

Trinseo Stock Performance

TSE opened at $6.79 on Friday. Trinseo has a one year low of $5.48 and a one year high of $30.53. The company has a current ratio of 1.89, a quick ratio of 1.24 and a debt-to-equity ratio of 108.42. The business’s 50-day simple moving average is $7.00 and its 200-day simple moving average is $11.67.

Insider Buying and Selling

In other news, CFO David Phillip Stasse purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were purchased at an average price of $8.89 per share, for a total transaction of $133,350.00. Following the purchase, the chief financial officer now directly owns 105,552 shares of the company’s stock, valued at approximately $938,357.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO David Phillip Stasse acquired 15,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was bought at an average cost of $8.89 per share, with a total value of $133,350.00. Following the transaction, the chief financial officer now owns 105,552 shares of the company’s stock, valued at $938,357.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank A. Bozich acquired 8,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were bought at an average cost of $8.07 per share, with a total value of $64,560.00. Following the completion of the transaction, the chief executive officer now directly owns 192,653 shares in the company, valued at approximately $1,554,709.71. The disclosure for this purchase can be found here. Insiders have bought 45,500 shares of company stock worth $379,160 in the last quarter. 2.50% of the stock is owned by insiders.

Institutional Trading of Trinseo

A number of hedge funds have recently added to or reduced their stakes in the stock. Point72 Middle East FZE acquired a new stake in shares of Trinseo in the 4th quarter valued at approximately $32,000. Quarry LP acquired a new stake in shares of Trinseo in the 1st quarter valued at approximately $34,000. Point72 Hong Kong Ltd acquired a new stake in shares of Trinseo in the 2nd quarter valued at approximately $85,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Trinseo in the 2nd quarter valued at approximately $134,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Trinseo by 227.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,646 shares of the basic materials company’s stock valued at $76,000 after buying an additional 2,534 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on TSE shares. Barclays dropped their price objective on Trinseo from $15.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. StockNews.com upgraded Trinseo from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on Trinseo from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, August 15th. Finally, Jefferies Financial Group downgraded Trinseo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $22.00 to $9.00 in a report on Wednesday, October 4th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, Trinseo currently has an average rating of “Hold” and a consensus target price of $14.75.

Trinseo Company Profile

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. The company operates in six segments: Engineered Materials, Latex Binders, Base Plastics, Polystyrene, Feedstocks, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction application; and produces activated methyl methacrylates.