Alta Fundamental Advisers LLC Reduces Stock Position in Trinseo PLC (NYSE:TSE)

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 lowered its stake in shares of Trinseo PLC (NYSE:TSE - Free Report) by 86.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,618 shares of the basic materials company's stock after selling 336,882 shares during the period. Trinseo accounts for approximately 0.1% of Alta Fundamental Advisers LLC's portfolio, making the stock its 18th largest holding. Alta Fundamental Advisers LLC owned 0.15% of Trinseo worth $197,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TSE. CastleKnight Management LP increased its holdings in shares of Trinseo by 128.1% in the fourth quarter. CastleKnight Management LP now owns 2,479,618 shares of the basic materials company's stock worth $12,646,000 after purchasing an additional 1,392,476 shares during the period. Brightline Capital Management LLC bought a new position in shares of Trinseo in the fourth quarter worth $4,820,000. Marshall Wace LLP increased its holdings in shares of Trinseo by 1.7% in the fourth quarter. Marshall Wace LLP now owns 618,192 shares of the basic materials company's stock worth $3,153,000 after purchasing an additional 10,543 shares during the period. Geode Capital Management LLC increased its holdings in shares of Trinseo by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 388,751 shares of the basic materials company's stock worth $1,984,000 after purchasing an additional 2,820 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Trinseo by 3.9% in the fourth quarter. Bank of America Corp DE now owns 335,947 shares of the basic materials company's stock worth $1,713,000 after purchasing an additional 12,458 shares during the period. Hedge funds and other institutional investors own 82.69% of the company's stock.

Analyst Upgrades and Downgrades

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

Trinseo Stock Performance

Trinseo stock opened at $2.06 on Friday. The stock has a market cap of $73.44 million, a P/E ratio of -0.19 and a beta of 1.44. Trinseo PLC has a fifty-two week low of $2.01 and a fifty-two week high of $7.05. The firm's fifty day moving average price is $3.06 and its 200-day moving average price is $3.61.

Trinseo (NYSE:TSE - Get Free Report) last released 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 firm had revenue of $784.30 million for the quarter, compared to analysts' expectations of $966.82 million. Sell-side analysts predict that Trinseo PLC will post -3.88 earnings per share for the current year.

Trinseo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a $0.01 dividend. The ex-dividend date was Thursday, July 10th. This represents a $0.04 annualized dividend and a yield of 1.9%. Trinseo's payout ratio is -0.36%.

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.

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