D. E. Shaw & Co. Inc. decreased its holdings in Trinseo PLC (NYSE:TSE - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 1.64% of Trinseo worth $2,967,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in TSE. Invesco Ltd. lifted its holdings in Trinseo by 0.9% during the fourth quarter. Invesco Ltd. now owns 314,658 shares of the basic materials company's stock valued at $1,605,000 after purchasing an additional 2,806 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Trinseo by 0.7% during 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 purchasing an additional 2,820 shares in the last quarter. Rhumbline Advisers lifted its holdings in 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 purchasing an additional 4,002 shares in the last quarter. Covestor Ltd purchased a new position in Trinseo during the fourth quarter valued at approximately $36,000. Finally, SG Americas Securities LLC purchased a new position in Trinseo during the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 82.69% of the company's stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Trinseo from a "hold" rating to a "sell" rating in a report on Monday, May 12th.
Read Our Latest Report on Trinseo
Trinseo Stock Performance
Shares of NYSE TSE opened at $2.80 on Tuesday. The company has a market cap of $99.82 million, a P/E ratio of -0.28 and a beta of 1.54. The firm's fifty day moving average is $3.55 and its two-hundred day moving average is $4.24. Trinseo PLC has a 52-week low of $1.94 and a 52-week high of $7.05.
Trinseo (NYSE:TSE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($1.37) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.40) by $0.03. The company had revenue of $784.80 million during the quarter, compared to the consensus estimate of $980.01 million. As a group, analysts forecast that Trinseo PLC will post -3.88 EPS for the current fiscal year.
Trinseo Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $0.04 dividend on an annualized basis and a yield of 1.43%. Trinseo's dividend payout ratio is currently -0.40%.
Trinseo Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding TSE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trinseo PLC (NYSE:TSE - Free Report).
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