Millennium Management LLC Cuts Position in Trinseo PLC (NYSE:TSE)

Millennium Management LLC reduced its position in shares of Trinseo PLC (NYSE:TSE - Free Report) by 61.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 178,244 shares of the basic materials company's stock after selling 278,927 shares during the quarter. Millennium Management LLC owned about 0.50% of Trinseo worth $909,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TSE. Jefferies Financial Group Inc. increased its holdings in shares of Trinseo by 14.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 30,000 shares of the basic materials company's stock valued at $153,000 after acquiring an additional 3,800 shares in the last quarter. CastleKnight Management LP increased its stake in Trinseo by 128.1% during the 4th quarter. CastleKnight Management LP now owns 2,479,618 shares of the basic materials company's stock valued at $12,646,000 after purchasing an additional 1,392,476 shares in the last quarter. Cetera Investment Advisers bought a new stake in Trinseo during the 4th quarter valued at $82,000. Bank of America Corp DE raised its holdings in Trinseo by 3.9% during 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 buying an additional 12,458 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Trinseo in the fourth quarter valued at $74,000. Institutional investors own 82.69% of the company's stock.

Trinseo Stock Performance

Shares of Trinseo stock traded up $0.06 on Friday, hitting $3.11. The company had a trading volume of 173,994 shares, compared to its average volume of 438,655. Trinseo PLC has a 1 year low of $1.94 and a 1 year high of $7.05. The stock has a 50 day moving average of $3.23 and a 200-day moving average of $4.15. The stock has a market capitalization of $110.98 million, a price-to-earnings ratio of -0.32 and a beta of 1.44.

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, topping the consensus estimate of ($1.40) by $0.03. The company had revenue of $784.80 million for the quarter, compared to the consensus estimate of $980.01 million. Equities analysts anticipate that Trinseo PLC will post -3.88 earnings per share for the current year.

Analysts Set New Price Targets

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

About Trinseo

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.