Trinseo SA (TSE) Shares Gap Up to $46.49
Trinseo SA (NYSE:TSE) shares gapped up prior to trading on Tuesday . The stock had previously closed at $45.86, but opened at $46.49. Trinseo SA shares last traded at $48.08, with a volume of 250,847 shares trading hands.
A number of research analysts have commented on the company. Morgan Stanley reiterated a “hold” rating and issued a $48.00 price objective on shares of Trinseo SA in a research report on Thursday, June 16th. Jefferies Group reiterated a “buy” rating and issued a $50.00 price objective on shares of Trinseo SA in a research report on Thursday, May 5th. Goldman Sachs Group Inc. increased their price objective on Trinseo SA from $39.00 to $44.00 in a research report on Tuesday, April 12th. Deutsche Bank AG reiterated a “buy” rating on shares of Trinseo SA in a research report on Wednesday, June 15th. Finally, Citigroup Inc. increased their price objective on Trinseo SA from $36.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, April 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $43.57.
The company has a market cap of $2.28 billion and a P/E ratio of 13.72. The firm’s 50-day moving average price is $46.12 and its 200-day moving average price is $36.58.
Trinseo SA (NYSE:TSE) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.27. The business earned $894 million during the quarter, compared to analyst estimates of $971.12 million. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. On average, analysts forecast that Trinseo SA will post $6.49 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 20th. Shareholders of record on Wednesday, July 6th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, July 1st. This represents a $1.20 annualized dividend and a yield of 2.48%.
In other Trinseo SA news, Director Stephen F. Thomas sold 8,000,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $42.90, for a total transaction of $343,200,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider E. Jeffery Denton acquired 1,200 shares of the stock in a transaction on Friday, May 13th. The shares were purchased at an average price of $43.66 per share, with a total value of $52,392.00. Following the completion of the transaction, the insider now owns 17,845 shares of the company’s stock, valued at $779,112.70. The disclosure for this purchase can be found here.
A number of hedge funds and institutional investors have recently made changes to their positions in TSE. GSA Capital Partners LLP increased its position in shares of Trinseo SA by 37.1% in the fourth quarter. GSA Capital Partners LLP now owns 59,630 shares of the company’s stock valued at $1,682,000 after buying an additional 16,130 shares in the last quarter. Oxford Asset Management purchased a new position in shares of Trinseo SA during the fourth quarter valued at approximately $1,760,000. California Public Employees Retirement System increased its position in shares of Trinseo SA by 7.7% in the fourth quarter. California Public Employees Retirement System now owns 171,300 shares of the company’s stock valued at $4,831,000 after buying an additional 12,200 shares in the last quarter. American Century Companies Inc. increased its position in shares of Trinseo SA by 6.9% in the fourth quarter. American Century Companies Inc. now owns 238,717 shares of the company’s stock valued at $6,732,000 after buying an additional 15,491 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Trinseo SA by 15.3% in the fourth quarter. Wells Fargo & Company MN now owns 260,302 shares of the company’s stock valued at $7,341,000 after buying an additional 34,456 shares in the last quarter.
Trinseo SA is a materials company. The Company operates under two divisions: Performance Materials and Basic Plastics & Feedstocks. The Performance Materials division’s segments include Synthetic Rubber, Latex and Performance Plastics. The Latex segment produces styrene-butadiene latex (SB latex) for coated paper and packaging board, carpet and artificial turf backings, as well as a number of performance latex applications.
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