Bank of New York Mellon Corp Trims Stock Holdings in Trinseo PLC (NYSE:TSE)

Bank of New York Mellon Corp decreased its position in Trinseo PLC (NYSE:TSE) by 84.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,226 shares of the basic materials company’s stock after selling 121,824 shares during the period. Bank of New York Mellon Corp owned approximately 0.07% of Trinseo worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&G Plc purchased a new position in Trinseo in the 1st quarter worth $30,500,000. Vanguard Group Inc. raised its stake in Trinseo by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 1,115,487 shares of the basic materials company’s stock worth $4,217,000 after acquiring an additional 93,050 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in Trinseo by 45.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,627,240 shares of the basic materials company’s stock worth $13,620,000 after acquiring an additional 507,200 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Trinseo in the 1st quarter worth $48,000. Finally, Los Angeles Capital Management LLC purchased a new position in Trinseo in the 1st quarter worth $330,000. Hedge funds and other institutional investors own 82.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Trinseo from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th.

Insider Buying and Selling

In other news, Director Jeffrey J. Cote acquired 100,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $2.81 per share, for a total transaction of $281,000.00. Following the acquisition, the director now owns 100,000 shares in the company, valued at approximately $281,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jeffrey J. Cote bought 100,000 shares of the stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $2.81 per share, for a total transaction of $281,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $281,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Angelo N. Chaclas bought 75,000 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $2.57 per share, for a total transaction of $192,750.00. Following the completion of the acquisition, the senior vice president now owns 207,007 shares in the company, valued at $532,007.99. The disclosure for this purchase can be found here. In the last three months, insiders have bought 265,600 shares of company stock worth $748,084. Insiders own 2.50% of the company’s stock.

Trinseo Stock Performance

NYSE TSE opened at $5.49 on Friday. The stock has a 50-day simple moving average of $3.51 and a two-hundred day simple moving average of $3.29. The firm has a market capitalization of $194.13 million, a P/E ratio of -0.27 and a beta of 1.63. Trinseo PLC has a fifty-two week low of $1.93 and a fifty-two week high of $8.83.

Trinseo (NYSE:TSE) last posted its earnings results on Tuesday, August 6th. The basic materials company reported ($1.46) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.37). Trinseo had a negative net margin of 12.62% and a negative return on equity of 905.55%. The business had revenue of $920.00 million for the quarter, compared to analyst estimates of $958.16 million. During the same quarter last year, the business earned ($1.92) earnings per share. As a group, analysts forecast that Trinseo PLC will post -6.73 earnings per share for the current year.

Trinseo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.73%. The ex-dividend date is Thursday, October 10th. Trinseo’s payout ratio is -0.19%.

About Trinseo

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. It operates through five segments: Engineered Materials, Latex Binders, Plastics Solutions, Polystyrene, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, activated methyl methacrylates (MMA), PMMA resins, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction applications under the EMERGE, CALIBRE, PLEXIGLAS, ALTUGLAS, ACRYSPA, AVONITE, STUDIO, MEGOL, APILON, APIGO, and APINAT brands.