Point72 DIFC Ltd Acquires Shares of 23,920 Trinseo PLC (NYSE:TSE)

Point72 DIFC Ltd acquired a new stake in Trinseo PLC (NYSE:TSE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,920 shares of the basic materials company’s stock, valued at approximately $55,000. Point72 DIFC Ltd owned about 0.07% of Trinseo at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSE. M&G Plc acquired a new stake in Trinseo during the 1st quarter worth about $30,500,000. Hotchkis & Wiley Capital Management LLC raised its position in Trinseo by 45.3% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,627,240 shares of the basic materials company’s stock valued at $13,620,000 after acquiring an additional 507,200 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Trinseo by 388.0% in the second quarter. Los Angeles Capital Management LLC now owns 425,506 shares of the basic materials company’s stock valued at $983,000 after acquiring an additional 338,318 shares during the period. Marshall Wace LLP purchased a new stake in Trinseo in the 2nd quarter worth approximately $455,000. Finally, Vanguard Group Inc. grew its stake in shares of Trinseo by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 1,115,487 shares of the basic materials company’s stock worth $4,217,000 after purchasing an additional 93,050 shares during the period. Institutional investors and hedge funds own 82.69% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Trinseo

In related news, Director Jeffrey J. Cote purchased 50,600 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average cost of $3.39 per share, with a total value of $171,534.00. Following the purchase, the director now owns 150,600 shares of the company’s stock, valued at approximately $510,534. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jeffrey J. Cote acquired 100,000 shares of Trinseo stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average cost of $2.81 per share, with a total value of $281,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at $281,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey J. Cote bought 50,600 shares of the stock in a transaction on Monday, August 19th. The shares were acquired at an average cost of $3.39 per share, for a total transaction of $171,534.00. Following the purchase, the director now owns 150,600 shares in the company, valued at $510,534. The disclosure for this purchase can be found here. Insiders purchased 265,600 shares of company stock valued at $748,084 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Trinseo Stock Down 4.0 %

Shares of Trinseo stock opened at $5.49 on Friday. The firm has a market cap of $194.13 million, a PE ratio of -0.27 and a beta of 1.63. The business has a 50-day moving average price of $3.57 and a 200 day moving average price of $3.29. Trinseo PLC has a twelve month low of $1.93 and a twelve month high of $8.83.

Trinseo (NYSE:TSE) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $958.16 million. During the same quarter last year, the firm earned ($1.92) earnings per share. On average, sell-side analysts expect that Trinseo PLC will post -6.73 EPS for the current year.

Trinseo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be given a $0.01 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.73%. Trinseo’s dividend payout ratio (DPR) 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.