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Trinseo (NYSE:TSE) Stock Passes Above Fifty Day Moving Average - Here's Why

Trinseo logo with Basic Materials background

Trinseo PLC (NYSE:TSE - Get Free Report)'s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $3.05 and traded as high as $3.14. Trinseo shares last traded at $3.11, with a volume of 326,592 shares changing hands.

Analysts Set New Price Targets

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

Get Our Latest Research Report on Trinseo

Trinseo Stock Performance

The company has a market capitalization of $105.56 million, a PE ratio of -0.30 and a beta of 1.43. The company's 50-day simple moving average is $3.09 and its 200-day simple moving average is $3.74.

Trinseo (NYSE:TSE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported ($1.37) earnings per share for the quarter, topping analysts' consensus estimates of ($1.40) by $0.03. The company had revenue of $784.80 million for the quarter, compared to analyst estimates of $980.01 million. Analysts expect that Trinseo PLC will post -3.88 EPS for the current year.

Trinseo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, July 10th. Trinseo's dividend payout ratio is presently -0.40%.

Hedge Funds Weigh In On Trinseo

A number of large investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Trinseo in the fourth quarter valued at approximately $253,000. Cetera Investment Advisers purchased a new stake in shares of Trinseo during the 4th quarter worth $82,000. Dimensional Fund Advisors LP purchased a new stake in shares of Trinseo during the 4th quarter worth $210,000. Barclays PLC grew its stake in shares of Trinseo by 48.5% during the 4th quarter. Barclays PLC now owns 48,352 shares of the basic materials company's stock worth $247,000 after purchasing an additional 15,786 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Trinseo by 32.4% in the 4th quarter. Jane Street Group LLC now owns 330,467 shares of the basic materials company's stock valued at $1,685,000 after purchasing an additional 80,943 shares in the last quarter. 82.69% of the stock is owned by hedge funds and other institutional investors.

About Trinseo

(Get 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

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