Squarepoint Ops LLC Acquires 63,982 Shares of Trinseo PLC (NYSE:TSE)

Squarepoint Ops LLC lifted its holdings in shares of Trinseo PLC (NYSE:TSE) by 97.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,500 shares of the basic materials company’s stock after purchasing an additional 63,982 shares during the period. Squarepoint Ops LLC’s holdings in Trinseo were worth $299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TSE. M&G Plc bought a new position in Trinseo in the first quarter worth approximately $30,500,000. Vanguard Group Inc. boosted its holdings in Trinseo by 9.1% in the first 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 in the last quarter. Marshall Wace LLP bought a new position in Trinseo in the second quarter worth approximately $455,000. State Board of Administration of Florida Retirement System bought a new position in Trinseo in the first quarter worth approximately $48,000. Finally, Los Angeles Capital Management LLC boosted 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 worth $983,000 after acquiring an additional 338,318 shares in the last quarter. Institutional investors own 82.69% of the company’s stock.

Trinseo Stock Up 2.8 %

TSE stock opened at $6.51 on Friday. Trinseo PLC has a twelve month low of $1.93 and a twelve month high of $8.83. The stock’s 50 day moving average is $4.18 and its 200-day moving average is $3.40. The firm has a market capitalization of $230.19 million, a PE ratio of -0.51 and a beta of 1.63.

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 analysts’ consensus estimates of ($1.09) by ($0.37). The firm had revenue of $920.00 million during the quarter, compared to the consensus estimate of $958.16 million. During the same quarter in the previous year, the company earned ($1.92) EPS. On average, equities research analysts anticipate that Trinseo PLC will post -6.73 earnings per share for the current fiscal 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 issued a $0.01 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.61%. Trinseo’s dividend payout ratio is presently -0.32%.

Insider Activity

In related news, Director Jeffrey J. Cote bought 50,600 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were bought at an average price of $3.39 per share, for a total transaction of $171,534.00. Following the completion of the acquisition, the director now directly owns 150,600 shares of the company’s stock, valued at $510,534. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Trinseo news, Director Jeffrey J. Cote purchased 50,600 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average cost of $3.39 per share, with a total value of $171,534.00. Following the completion of the transaction, the director now owns 150,600 shares of the company’s stock, valued at $510,534. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey J. Cote purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $2.81 per share, with a total value of $281,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $281,000. 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. 2.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Trinseo 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.