Trinseo PLC (NYSE:TSE) Shares Sold by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC trimmed its stake in shares of Trinseo PLC (NYSE:TSE) by 22.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,549 shares of the basic materials company’s stock after selling 27,445 shares during the quarter. Susquehanna Portfolio Strategies LLC owned about 0.27% of Trinseo worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of TSE. Quadrature Capital Ltd increased its stake in Trinseo by 16.7% in the 4th quarter. Quadrature Capital Ltd now owns 30,944 shares of the basic materials company’s stock valued at $259,000 after buying an additional 4,439 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Trinseo by 40.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,906 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 10,036 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Trinseo in the second quarter valued at about $25,000. Ground Swell Capital LLC acquired a new stake in Trinseo in the second quarter valued at about $29,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Trinseo in the 1st quarter valued at approximately $48,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Trinseo

In related news, CEO Frank A. Bozich bought 40,000 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $2.57 per share, for a total transaction of $102,800.00. Following the acquisition, the chief executive officer now owns 462,204 shares in the company, valued at $1,187,864.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jeffrey J. Cote purchased 100,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $2.81 per share, with a total value of $281,000.00. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at $281,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank A. Bozich acquired 40,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $2.57 per share, with a total value of $102,800.00. Following the transaction, the chief executive officer now owns 462,204 shares of the company’s stock, valued at $1,187,864.28. The disclosure for this purchase can be found here. Insiders acquired a total of 265,600 shares of company stock valued at $748,084 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Trinseo Trading Down 4.0 %

Shares of Trinseo stock opened at $5.49 on Monday. The company has a 50-day moving average of $3.57 and a two-hundred day moving average of $3.28. The stock has a market cap of $194.13 million, a PE ratio of -0.27 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 posted its earnings results on Tuesday, August 6th. The basic materials company reported ($1.46) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $920.00 million during the quarter, compared to analyst estimates of $958.16 million. During the same period last year, the company posted ($1.92) EPS. On average, sell-side analysts forecast that Trinseo PLC will post -6.73 EPS for the current fiscal year.

Trinseo Announces Dividend

The firm also recently declared 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 is presently -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.