Artemis Investment Management LLP Purchases Shares of 389,877 Trinseo S.A. (TSE)
Artemis Investment Management LLP purchased a new stake in Trinseo S.A. (NYSE:TSE) in the 3rd quarter, Holdings Channel reports. The firm purchased 389,877 shares of the basic materials company’s stock, valued at approximately $30,486,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NorthCoast Asset Management LLC bought a new stake in shares of Trinseo in the 2nd quarter valued at approximately $1,570,000. Renaissance Technologies LLC grew its stake in shares of Trinseo by 3.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,595,500 shares of the basic materials company’s stock valued at $113,201,000 after buying an additional 52,100 shares in the last quarter. Northern Trust Corp grew its stake in shares of Trinseo by 2.7% in the 2nd quarter. Northern Trust Corp now owns 540,917 shares of the basic materials company’s stock valued at $38,378,000 after buying an additional 14,460 shares in the last quarter. Aperio Group LLC grew its stake in shares of Trinseo by 16.4% in the 3rd quarter. Aperio Group LLC now owns 15,442 shares of the basic materials company’s stock valued at $1,209,000 after buying an additional 2,174 shares in the last quarter. Finally, Rothschild Asset Management Inc. grew its stake in shares of Trinseo by 0.3% in the 2nd quarter. Rothschild Asset Management Inc. now owns 277,099 shares of the basic materials company’s stock valued at $19,660,000 after buying an additional 821 shares in the last quarter. 98.06% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on TSE shares. Citigroup raised Trinseo from a “neutral” rating to a “buy” rating in a research note on Thursday, November 15th. Alembic Global Advisors set a $75.00 price target on Trinseo and gave the company a “buy” rating in a research note on Monday, November 12th. MED reissued a “buy” rating and issued a $90.00 price target on shares of Trinseo in a research note on Thursday, August 2nd. Barclays lowered their price target on Trinseo from $88.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, October 11th. Finally, Tudor Pickering cut Trinseo from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research report on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Trinseo presently has an average rating of “Buy” and a consensus target price of $78.00.
Trinseo (NYSE:TSE) last announced its earnings results on Thursday, November 8th. The basic materials company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.03. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Trinseo had a return on equity of 52.61% and a net margin of 8.82%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.18 earnings per share. As a group, equities analysts predict that Trinseo S.A. will post 8.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Wednesday, October 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $1.60 dividend on an annualized basis and a yield of 3.25%. Trinseo’s payout ratio is currently 19.68%.
Trinseo Company Profile
Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in Europe, the United States, the Asia Pacific, and internationally. The company operates through Latex Binders, Synthetic Rubber, Performance Plastics, Basic Plastics, Feedstocks, and Americas Styrenics segments.
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