Trinseo (NYSE:TSE) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Trinseo (NYSE:TSE) from a hold rating to a sell rating in a research report report published on Saturday morning, Zacks.com reports.

According to Zacks, “Trinseo S.A. is a global materials company and manufacturer of plastics, latex and rubber. The Company’s technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Its major products include styrene-butadiene latex, styrene-acrylate latex, solution styrene-butadiene rubber, lithium polybutadiene rubber, emulsion styrene-butadiene rubber, nickel polybutadiene rubber, polystyrene, expandable polystyrene, acrylonitrile-butadiene-styrene, styrene-acrylonitrile, ignition resistant polystyrene, polycarbonate resins, compounds and blends, and polypropylene compounds. Trinseo S.A. is based in Berwyn, Pennsylvania. “

A number of other research firms also recently issued reports on TSE. Jefferies Financial Group restated a hold rating on shares of Trinseo in a research note on Wednesday, June 17th. Deutsche Bank cut their price objective on Trinseo from $22.00 to $21.00 and set a hold rating for the company in a report on Tuesday, May 12th. ValuEngine raised Trinseo from a hold rating to a buy rating in a report on Monday, June 1st. Morgan Stanley lowered Trinseo from an equal weight rating to an underweight rating and cut their price objective for the stock from $19.00 to $14.00 in a report on Thursday, May 28th. Finally, Barclays cut their price objective on Trinseo from $34.00 to $22.00 and set an equal weight rating for the company in a report on Monday, May 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Trinseo currently has a consensus rating of Hold and an average price target of $23.50.

Shares of NYSE TSE opened at $21.85 on Friday. The firm’s 50 day moving average price is $21.16 and its 200-day moving average price is $25.21. The company has a market cap of $817.93 million, a PE ratio of 49.66 and a beta of 1.75. Trinseo has a 52-week low of $14.16 and a 52-week high of $50.14. The company has a debt-to-equity ratio of 2.03, a quick ratio of 2.14 and a current ratio of 2.99.

Trinseo (NYSE:TSE) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.17. Trinseo had a net margin of 0.55% and a return on equity of 13.41%. The firm had revenue of $853.50 million for the quarter, compared to the consensus estimate of $930.44 million. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business’s revenue was down 15.8% on a year-over-year basis. On average, analysts forecast that Trinseo will post -1.14 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 7.32%. The ex-dividend date is Wednesday, July 8th. Trinseo’s dividend payout ratio is presently 51.12%.

In other Trinseo news, major shareholder M&G Investment Management Ltd sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $25.63, for a total transaction of $256,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in TSE. Amalgamated Bank lifted its position in shares of Trinseo by 5.6% in the fourth quarter. Amalgamated Bank now owns 6,614 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 352 shares in the last quarter. Green Square Asset Management LLC lifted its position in shares of Trinseo by 10.3% in the fourth quarter. Green Square Asset Management LLC now owns 5,931 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 554 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Trinseo by 0.6% in the first quarter. Two Sigma Advisers LP now owns 120,900 shares of the basic materials company’s stock valued at $2,189,000 after acquiring an additional 700 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Trinseo by 14.0% in the fourth quarter. ProShare Advisors LLC now owns 6,420 shares of the basic materials company’s stock valued at $239,000 after acquiring an additional 789 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Trinseo by 0.6% in the first quarter. PNC Financial Services Group Inc. now owns 152,258 shares of the basic materials company’s stock valued at $2,758,000 after acquiring an additional 851 shares in the last quarter. 99.91% of the stock is owned by institutional investors and hedge funds.

Trinseo Company Profile

Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in Europe, the United States, the Asia-Pacific, and internationally. The company operates through six segments: Latex Binders, Synthetic Rubber, Performance Plastics, Polystyrene, Feedstocks, and Americas Styrenics.

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