State of Tennessee Treasury Department cut its position in Trinseo S.A. (NYSE:TSE) by 24.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,071 shares of the basic materials company’s stock after selling 4,200 shares during the quarter. State of Tennessee Treasury Department’s holdings in Trinseo were worth $290,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Cerebellum GP LLC purchased a new stake in shares of Trinseo in the second quarter valued at about $36,000. Verus Capital Partners LLC purchased a new position in shares of Trinseo during the first quarter worth approximately $27,000. CWM LLC bought a new position in shares of Trinseo in the second quarter worth approximately $41,000. Ovata Capital Management Ltd bought a new stake in Trinseo in the second quarter valued at $45,000. Finally, US Bancorp DE boosted its holdings in shares of Trinseo by 281.1% during the 1st quarter. US Bancorp DE now owns 2,058 shares of the basic materials company’s stock valued at $37,000 after buying an additional 1,518 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.
Shares of NYSE:TSE opened at $25.85 on Wednesday. Trinseo S.A. has a one year low of $14.16 and a one year high of $50.14. The business’s fifty day moving average price is $25.36 and its two-hundred day moving average price is $21.80. The company has a debt-to-equity ratio of 2.75, a quick ratio of 2.36 and a current ratio of 3.08. The stock has a market cap of $989.25 million, a PE ratio of -7.18 and a beta of 1.95.
Trinseo (NYSE:TSE) last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported ($2.95) EPS for the quarter, missing the consensus estimate of ($2.54) by ($0.41). The company had revenue of $569.70 million during the quarter, compared to analysts’ expectations of $599.45 million. Trinseo had a negative net margin of 4.22% and a negative return on equity of 10.14%. The company’s revenue for the quarter was down 40.1% compared to the same quarter last year. During the same period last year, the business earned $0.99 earnings per share. As a group, equities research analysts predict that Trinseo S.A. will post -1.71 earnings per share for the current fiscal year.
In related news, major shareholder M&G Investment Management Ltd sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $27.22, for a total transaction of $136,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.
A number of brokerages have weighed in on TSE. Morgan Stanley lowered Trinseo from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $19.00 to $14.00 in a research report on Thursday, May 28th. ValuEngine upgraded Trinseo from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 1st. Deutsche Bank upped their price target on Trinseo from $21.00 to $24.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Trinseo in a report on Wednesday, June 17th. Finally, Zacks Investment Research lowered Trinseo from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $24.00.
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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