Charles Schwab Investment Management Inc. Cuts Holdings in Trinseo PLC $TSE

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Trinseo PLC by 31.2%, selling 164,278 shares, and now owns about 1.02% of the company valued at approximately $1.34 million.
• Trinseo recently reported a quarterly loss of ($2.12) earnings per share, missing expectations significantly, with actual revenue of $784.30 million compared to estimates of $966.82 million.
• Despite the losses, Trinseo declared a quarterly dividend of $0.01 per share, representing an annualized yield of 1.7%.

Charles Schwab Investment Management Inc. reduced its position in shares of Trinseo PLC (NYSE:TSE - Free Report) by 31.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 362,646 shares of the basic materials company's stock after selling 164,278 shares during the period. Charles Schwab Investment Management Inc. owned 1.02% of Trinseo worth $1,335,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TSE. State of Wyoming purchased a new stake in shares of Trinseo in the 4th quarter valued at approximately $53,000. BNP Paribas Financial Markets acquired a new position in Trinseo in the fourth quarter valued at approximately $74,000. Susquehanna Fundamental Investments LLC acquired a new position in Trinseo in the fourth quarter valued at approximately $80,000. Cetera Investment Advisers purchased a new position in Trinseo in the fourth quarter worth approximately $82,000. Finally, Man Group plc acquired a new stake in Trinseo during the fourth quarter worth $96,000. 82.69% of the stock is owned by hedge funds and other institutional investors.

Trinseo Trading Up 1.9%

Trinseo stock traded up $0.04 during trading on Thursday, hitting $2.35. The company had a trading volume of 242,586 shares, compared to its average volume of 353,948. The stock has a market cap of $84.59 million, a price-to-earnings ratio of -0.21 and a beta of 1.39. Trinseo PLC has a 1-year low of $1.90 and a 1-year high of $7.05. The company's 50 day simple moving average is $2.70 and its 200-day simple moving average is $3.37.

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

Trinseo Announces Dividend

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. This represents a $0.04 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, July 10th. Trinseo's dividend payout ratio (DPR) is -0.36%.

Insiders Place Their Bets

In other Trinseo news, Director Matthew Farrell purchased 48,609 shares of the business's stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $2.43 per share, for a total transaction of $118,119.87. Following the completion of the purchase, the director directly owned 250,225 shares of the company's stock, valued at approximately $608,046.75. This trade represents a 24.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders bought 100,000 shares of company stock valued at $240,028. Insiders own 4.50% of the company's stock.

Analyst Ratings Changes

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