IndexIQ Advisors LLC increased its stake in shares of Trinseo S.A. (NYSE:TSE) by 83.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,916 shares of the basic materials company’s stock after purchasing an additional 5,865 shares during the quarter. IndexIQ Advisors LLC’s holdings in Trinseo were worth $867,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of TSE. Daiwa Securities Group Inc. purchased a new stake in Trinseo during the 2nd quarter worth about $103,000. Canada Pension Plan Investment Board acquired a new stake in Trinseo in the 3rd quarter worth about $161,000. Royal Bank of Canada boosted its stake in Trinseo by 47.7% in the 2nd quarter. Royal Bank of Canada now owns 2,611 shares of the basic materials company’s stock worth $179,000 after buying an additional 843 shares during the last quarter. Citigroup Inc. boosted its stake in Trinseo by 10.7% in the 2nd quarter. Citigroup Inc. now owns 2,698 shares of the basic materials company’s stock worth $185,000 after buying an additional 260 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. boosted its stake in Trinseo by 57.9% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,905 shares of the basic materials company’s stock worth $200,000 after buying an additional 1,065 shares during the last quarter. Hedge funds and other institutional investors own 97.07% of the company’s stock.
Trinseo S.A. (NYSE TSE) opened at $70.90 on Friday. The firm has a market capitalization of $3,098.68, a PE ratio of 9.24, a PEG ratio of 1.17 and a beta of 2.36. Trinseo S.A. has a 52 week low of $50.70 and a 52 week high of $73.40. The company has a quick ratio of 2.03, a current ratio of 2.59 and a debt-to-equity ratio of 2.05.
Trinseo (NYSE:TSE) last released its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.04). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. Trinseo had a net margin of 6.78% and a return on equity of 65.80%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.70 earnings per share. sell-side analysts anticipate that Trinseo S.A. will post 7.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, October 6th. Trinseo’s dividend payout ratio is currently 22.54%.
In other news, Director Jeffrey J. Cote sold 5,000 shares of Trinseo stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $65.01, for a total value of $325,050.00. Following the transaction, the director now directly owns 15,640 shares of the company’s stock, valued at approximately $1,016,756.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher D. Pappas sold 25,000 shares of Trinseo stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $68.50, for a total value of $1,712,500.00. Following the completion of the transaction, the insider now directly owns 265,240 shares in the company, valued at $18,168,940. The disclosure for this sale can be found here. Insiders sold a total of 35,399 shares of company stock worth $2,401,335 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.
A number of brokerages have issued reports on TSE. Zacks Investment Research raised Trinseo from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Thursday. Jefferies Group LLC raised their price target on Trinseo from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Barclays PLC raised their price target on Trinseo from $73.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 7th. BidaskClub lowered Trinseo from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Alembic Global Advisors reissued a “buy” rating on shares of Trinseo in a research note on Tuesday, September 5th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $77.00.
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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