Trinseo (NYSE:TSE) Stock Price Passes Below 200 Day Moving Average - Here's Why

Trinseo PLC (NYSE:TSE - Get Free Report) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.97 and traded as low as $3.05. Trinseo shares last traded at $3.16, with a volume of 270,937 shares trading hands.

Analysts Set New Price Targets

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

Trinseo Stock Up 5.3%

The company has a market cap of $112.65 million, a P/E ratio of -0.32 and a beta of 1.43. The company has a 50 day moving average price of $3.23 and a 200-day moving average price of $3.97.

Trinseo (NYSE:TSE - Get Free Report) last announced its 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. On average, research analysts expect that Trinseo PLC will post -3.88 earnings per share for the current fiscal year.

Trinseo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $0.04 dividend on an annualized basis and a yield of 1.27%. Trinseo's dividend payout ratio (DPR) is -0.40%.

Hedge Funds Weigh In On Trinseo

Several hedge funds have recently modified their holdings of TSE. Covestor Ltd acquired a new stake in shares of Trinseo in the fourth quarter valued at $36,000. Rhumbline Advisers lifted its stake 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 during the last quarter. State of Wyoming bought a new stake in Trinseo during the fourth quarter worth approximately $53,000. BNP Paribas Financial Markets bought a new stake in Trinseo during the fourth quarter worth approximately $74,000. Finally, Quarry LP acquired a new position in Trinseo in the fourth quarter worth approximately $79,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.

Trinseo Company 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.