Renaissance Technologies LLC Sells 76,900 Shares of Trinseo PLC (NYSE:TSE)

Renaissance Technologies LLC lessened its holdings in shares of Trinseo PLC (NYSE:TSE) by 37.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 128,700 shares of the basic materials company’s stock after selling 76,900 shares during the period. Renaissance Technologies LLC’s holdings in Trinseo were worth $297,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Ground Swell Capital LLC bought a new stake in Trinseo in the 2nd quarter valued at $29,000. Red Door Wealth Management LLC acquired a new position in shares of Trinseo during the 2nd quarter worth approximately $35,000. Meeder Asset Management Inc. bought a new position in shares of Trinseo in the second quarter valued at $37,000. State Board of Administration of Florida Retirement System bought a new stake in Trinseo during the first quarter worth $48,000. Finally, StoneX Group Inc. acquired a new stake in Trinseo in the first quarter valued at $52,000. Institutional investors and hedge funds own 82.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Trinseo from a “sell” rating to a “hold” rating in a report on Thursday.

Insiders Place Their Bets

In other news, CEO Frank A. Bozich acquired 40,000 shares of the firm’s 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 purchase, the chief executive officer now directly owns 462,204 shares of the company’s stock, valued at $1,187,864.28. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Trinseo news, Director Jeffrey J. Cote bought 50,600 shares of Trinseo stock in a transaction 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 acquisition, the director now directly owns 150,600 shares of the company’s stock, valued at $510,534. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank A. Bozich acquired 40,000 shares of Trinseo stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $2.57 per share, for a total transaction of $102,800.00. Following the purchase, the chief executive officer now owns 462,204 shares of the company’s stock, valued at $1,187,864.28. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 265,600 shares of company stock worth $748,084 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.

Trinseo Stock Up 2.8 %

TSE opened at $6.51 on Friday. The business has a 50 day moving average of $4.18 and a 200-day moving average of $3.40. The stock has a market cap of $230.19 million, a price-to-earnings ratio of -0.51 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 released its quarterly 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). The company had revenue of $920.00 million for the quarter, compared to analyst estimates of $958.16 million. During the same quarter last year, the company posted ($1.92) earnings per share. As a group, analysts expect that Trinseo PLC will post -6.73 earnings per share for the current year.

Trinseo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, October 10th. Trinseo’s dividend payout ratio (DPR) is presently -0.32%.

Trinseo Company Profile

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.