Trinseo PLC (NYSE:TSE) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. cut its holdings in Trinseo PLC (NYSE:TSE - Free Report) by 32.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 581,795 shares of the basic materials company's stock after selling 281,065 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 1.64% of Trinseo worth $2,967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Covestor Ltd purchased a new position in shares of Trinseo during the fourth quarter valued at approximately $36,000. Rhumbline Advisers lifted its stake in shares of Trinseo by 103.2% during the fourth 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 during the period. SG Americas Securities LLC purchased a new position in shares of Trinseo during the fourth quarter valued at approximately $51,000. BNP Paribas Financial Markets purchased a new position in shares of Trinseo during the fourth quarter valued at approximately $74,000. Finally, Quarry LP purchased a new position in Trinseo during the fourth quarter worth approximately $79,000. Hedge funds and other institutional investors own 82.69% of the company's stock.

Trinseo Stock Down 0.9%

Shares of TSE stock traded down $0.02 during mid-day trading on Friday, reaching $2.58. The company's stock had a trading volume of 268,645 shares, compared to its average volume of 452,305. The company's 50 day simple moving average is $3.42 and its 200-day simple moving average is $4.19. Trinseo PLC has a 12-month low of $1.94 and a 12-month high of $7.05. The firm has a market capitalization of $91.83 million, a PE ratio of -0.26 and a beta of 1.54.

Trinseo (NYSE:TSE - Get Free Report) last issued its earnings results on Wednesday, May 7th. The basic materials company reported ($1.37) EPS for the quarter, beating analysts' consensus estimates 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. As a group, research analysts anticipate that Trinseo PLC will post -3.88 EPS for the current fiscal year.

Trinseo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Thursday, April 10th. Trinseo's dividend payout ratio is presently -0.40%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Trinseo from a "hold" rating to a "sell" rating in a research note 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.