Trinseo S.A. (TSE) Shares Sold by Bessemer Group Inc.
Bessemer Group Inc. reduced its stake in Trinseo S.A. (NYSE:TSE) by 14.0% during the second quarter, Holdings Channel reports. The institutional investor owned 27,600 shares of the basic materials company’s stock after selling 4,500 shares during the period. Bessemer Group Inc.’s holdings in Trinseo were worth $1,896,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Benson Investment Management Company Inc. acquired a new position in shares of Trinseo during the second quarter worth about $1,501,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Trinseo during the first quarter valued at about $208,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Trinseo during the first quarter valued at about $2,417,000. Hennessy Advisors Inc. purchased a new position in shares of Trinseo during the first quarter valued at about $3,778,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Trinseo by 36.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 30,203 shares of the basic materials company’s stock valued at $2,027,000 after buying an additional 8,095 shares during the period.
Trinseo S.A. (NYSE:TSE) opened at 58.75 on Friday. Trinseo S.A. has a 12-month low of $44.70 and a 12-month high of $72.60. The company has a market capitalization of $2.57 billion, a PE ratio of 8.32 and a beta of 2.38. The stock has a 50 day moving average of $67.82 and a 200-day moving average of $67.06.
Trinseo (NYSE:TSE) last issued its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by $0.41. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Trinseo had a net margin of 7.88% and a return on equity of 67.05%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.30 earnings per share. Equities analysts expect that Trinseo S.A. will post $6.79 earnings per share for the current year.
Trinseo announced that its Board of Directors has authorized a share buyback plan on Thursday, June 22nd that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the basic materials company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Tuesday, July 11th were given a $0.36 dividend. This is an increase from Trinseo’s previous quarterly dividend of $0.30. This represents a $1.44 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Friday, July 7th. Trinseo’s payout ratio is currently 20.34%.
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Several brokerages have issued reports on TSE. Citigroup Inc. lifted their target price on shares of Trinseo from $67.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, July 12th. Deutsche Bank AG restated a “buy” rating and set a $74.00 target price (up from $72.00) on shares of Trinseo in a research report on Wednesday. Zacks Investment Research upgraded shares of Trinseo from a “hold” rating to a “strong-buy” rating and set a $82.00 target price for the company in a research report on Friday, July 21st. BidaskClub upgraded shares of Trinseo from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $82.00 price target on shares of Trinseo in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.80.
In related news, insider Christopher D. Pappas sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $67.24, for a total value of $1,344,800.00. Following the completion of the transaction, the insider now directly owns 260,240 shares of the company’s stock, valued at $17,498,537.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher D. Pappas sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $71.04, for a total value of $1,776,000.00. Following the completion of the transaction, the insider now directly owns 265,240 shares of the company’s stock, valued at $18,842,649.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,000 shares of company stock valued at $6,138,050. 0.65% of the stock is currently owned by corporate insiders.
Trinseo SA is a materials company engaged in the manufacture and marketing of synthetic rubber, latex and plastics. The Company’s segments include Latex Binders, Synthetic Rubber, Performance Plastics, Basic Plastics, Feedstocks and Americas Styrenics. The Latex Binders segment produces styrene-butadiene latex (SB latex) and other latex polymers and binders.
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