Trinseo PLC (NYSE:TSE) Shares Sold by Alta Fundamental Advisers LLC

Key Points

• Alta Fundamental Advisers LLC significantly reduced its stake in Trinseo PLC by 86.3%, resulting in ownership of just 53,618 shares after selling 336,882 shares in the first quarter.
• Trinseo's latest quarterly earnings report revealed a loss of $2.12 per share, missing analysts' expectations of $1.49 per share loss, and revenue of $784.3 million fell short of the anticipated $966.82 million.
• Following the poor earnings report, Wall Street Zen downgraded Trinseo's stock rating from "hold" to "sell" as of May 12th.

Alta Fundamental Advisers LLC decreased its holdings in Trinseo PLC (NYSE:TSE - Free Report) by 86.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,618 shares of the basic materials company's stock after selling 336,882 shares during the period. Trinseo comprises approximately 0.1% of Alta Fundamental Advisers LLC's holdings, making the stock its 18th largest holding. Alta Fundamental Advisers LLC owned approximately 0.15% of Trinseo worth $197,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. raised its holdings in Trinseo by 0.9% in the fourth quarter. Invesco Ltd. now owns 314,658 shares of the basic materials company's stock worth $1,605,000 after purchasing an additional 2,806 shares in the last quarter. Geode Capital Management LLC boosted its stake in Trinseo by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 388,751 shares of the basic materials company's stock valued at $1,984,000 after acquiring an additional 2,820 shares in the last quarter. Jefferies Financial Group Inc. grew its holdings in Trinseo by 14.5% in the fourth quarter. Jefferies Financial Group Inc. now owns 30,000 shares of the basic materials company's stock worth $153,000 after purchasing an additional 3,800 shares during the last quarter. Covestor Ltd purchased a new position in Trinseo in the fourth quarter worth $36,000. Finally, Two Sigma Investments LP grew its holdings in Trinseo by 2.7% in the fourth quarter. Two Sigma Investments LP now owns 326,592 shares of the basic materials company's stock worth $1,666,000 after purchasing an additional 8,682 shares during the last quarter. Hedge funds and other institutional investors own 82.69% of the company's stock.

Trinseo Price Performance

NYSE TSE traded down $0.08 during trading on Thursday, hitting $2.43. The company's stock had a trading volume of 300,265 shares, compared to its average volume of 382,933. The company has a market cap of $87.25 million, a PE ratio of -0.22 and a beta of 1.44. The business's 50 day simple moving average is $3.00 and its 200-day simple moving average is $3.57. Trinseo PLC has a fifty-two week low of $1.90 and a fifty-two week high of $7.05.

Trinseo (NYSE:TSE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported ($2.12) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.63). The business had revenue of $784.30 million during the quarter, compared to analyst estimates of $966.82 million. Analysts expect that Trinseo PLC will post -3.88 EPS for the current fiscal year.

Trinseo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.6%. Trinseo's payout ratio is -0.36%.

Insider Activity at Trinseo

In other news, Director Matthew Farrell bought 48,609 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average price of $2.43 per share, with a total value of $118,119.87. Following the completion of the acquisition, the director directly owned 250,225 shares of the company's stock, valued at $608,046.75. This trade represents a 24.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 100,000 shares of company stock worth $240,028 over the last three months. Insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Trinseo from a "hold" rating to a "sell" rating in a report on Monday, May 12th.

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.