CastleKnight Management LP Increases Position in Trinseo PLC (NYSE:TSE)

CastleKnight Management LP boosted its holdings in shares of Trinseo PLC (NYSE:TSE - Free Report) by 128.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,479,618 shares of the basic materials company's stock after acquiring an additional 1,392,476 shares during the quarter. Trinseo accounts for 0.4% of CastleKnight Management LP's portfolio, making the stock its 27th biggest holding. CastleKnight Management LP owned about 7.00% of Trinseo worth $12,646,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TSE. Covestor Ltd purchased a new stake in Trinseo in the 4th quarter valued at about $36,000. Rhumbline Advisers boosted its holdings in shares of Trinseo by 103.2% in the 4th quarter. Rhumbline Advisers now owns 7,879 shares of the basic materials company's stock valued at $40,000 after buying an additional 4,002 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Trinseo in the fourth quarter valued at approximately $51,000. BNP Paribas Financial Markets acquired a new stake in Trinseo in the fourth quarter worth about $74,000. Finally, Quarry LP acquired a new position in Trinseo during the 4th quarter valued at approximately $79,000. 82.69% of the stock is currently owned by institutional investors.

Trinseo Price Performance

Trinseo stock traded down $0.26 during trading hours on Friday, hitting $2.55. 902,954 shares of the stock traded hands, compared to its average volume of 453,107. The firm's 50 day moving average price is $3.79 and its 200-day moving average price is $4.33. The stock has a market capitalization of $90.91 million, a price-to-earnings ratio of -0.26 and a beta of 1.54. Trinseo PLC has a 1 year low of $1.94 and a 1 year high of $7.05.

Trinseo (NYSE:TSE - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported ($1.37) EPS for the quarter, beating the consensus estimate of ($1.40) by $0.03. The business had revenue of $784.80 million during the quarter, compared to analysts' expectations of $980.01 million. Research analysts forecast that Trinseo PLC will post -3.88 earnings per share for the current fiscal year.

Trinseo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Thursday, April 10th. Trinseo's dividend payout ratio is currently -0.41%.

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.