Trinseo (NYSE:TSE) Shares Cross Below 200-Day Moving Average - Time to Sell?

Shares of Trinseo PLC (NYSE:TSE - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.08 and traded as low as $3.26. Trinseo shares last traded at $3.41, with a volume of 230,359 shares changing hands.

Analysts Set New Price Targets

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

Trinseo Trading Down 8.7%

The stock has a market capitalization of $111.94 million, a PE ratio of -0.32 and a beta of 1.44. The stock's fifty day simple moving average is $3.28 and its 200-day simple moving average is $4.02.

Trinseo (NYSE:TSE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($1.37) earnings per share for the quarter, topping the consensus estimate of ($1.40) by $0.03. The firm had revenue of $784.80 million for the quarter, compared to analysts' expectations of $980.01 million. As a group, analysts anticipate that Trinseo PLC will post -3.88 earnings per share for the current fiscal year.

Trinseo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be paid 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 dividend yield of 1.27%. Trinseo's payout ratio is presently -0.40%.

Hedge Funds Weigh In On Trinseo

A number of large investors have recently made changes to their positions in TSE. CastleKnight Management LP grew its position in shares of 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. Brightline Capital Management LLC boosted its stake in Trinseo by 7.5% during the first quarter. Brightline Capital Management LLC now owns 1,016,000 shares of the basic materials company's stock valued at $3,739,000 after buying an additional 71,000 shares during the period. Marshall Wace LLP grew its position in Trinseo by 1.7% during the fourth quarter. Marshall Wace LLP now owns 618,192 shares of the basic materials company's stock worth $3,153,000 after buying an additional 10,543 shares in the last quarter. Geode Capital Management LLC increased its stake in Trinseo by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 388,751 shares of the basic materials company's stock worth $1,984,000 after acquiring an additional 2,820 shares during the last quarter. Finally, Truffle Hound Capital LLC purchased a new stake in shares of Trinseo in the 4th quarter valued at about $1,785,000. 82.69% of the stock is owned by institutional investors.

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.