Rhumbline Advisers Cuts Stock Holdings in Trinseo PLC (NYSE:TSE)

Rhumbline Advisers lowered its stake in shares of Trinseo PLC (NYSE:TSE) by 66.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 18,409 shares of the basic materials company’s stock after selling 36,464 shares during the period. Rhumbline Advisers’ holdings in Trinseo were worth $43,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TSE. State Board of Administration of Florida Retirement System purchased a new position in shares of Trinseo during the first quarter worth approximately $48,000. StoneX Group Inc. bought a new stake in Trinseo in the first quarter worth $52,000. Red Door Wealth Management LLC purchased a new stake in Trinseo during the second quarter valued at about $35,000. Allspring Global Investments Holdings LLC bought a new position in shares of Trinseo during the second quarter valued at about $56,000. Finally, Aristides Capital LLC purchased a new position in shares of Trinseo in the fourth quarter worth about $205,000. 82.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Trinseo

In other news, SVP Angelo N. Chaclas bought 75,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $2.57 per share, for a total transaction of $192,750.00. Following the purchase, the senior vice president now directly owns 207,007 shares in the company, valued at approximately $532,007.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Trinseo news, SVP Angelo N. Chaclas bought 75,000 shares of Trinseo stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $2.57 per share, with a total value of $192,750.00. Following the transaction, the senior vice president now directly owns 207,007 shares of the company’s stock, valued at $532,007.99. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank A. Bozich purchased 40,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $2.57 per share, with a total value of $102,800.00. Following the completion of the transaction, the chief executive officer now owns 462,204 shares in the company, valued at $1,187,864.28. The disclosure for this purchase can be found here. Insiders have purchased 265,600 shares of company stock worth $748,084 over the last 90 days. 2.50% of the stock is owned by company insiders.

Trinseo Trading Up 11.5 %

Shares of NYSE:TSE opened at $5.70 on Wednesday. The company has a 50-day moving average price of $3.62 and a 200-day moving average price of $3.27. The company has a market cap of $201.18 million, a price-to-earnings ratio of -0.28 and a beta of 1.63. Trinseo PLC has a 12 month low of $1.93 and a 12 month high of $8.83.

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

Trinseo Announces Dividend

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 paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend 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.