Trinseo (TSE) Upgraded at Zacks Investment Research
According to Zacks, “Trinseo S.A. is a global materials company and manufacturer of plastics, latex and rubber. The Company’s technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Its major products include styrene-butadiene latex, styrene-acrylate latex, solution styrene-butadiene rubber, lithium polybutadiene rubber, emulsion styrene-butadiene rubber, nickel polybutadiene rubber, polystyrene, expandable polystyrene, acrylonitrile-butadiene-styrene, styrene-acrylonitrile, ignition resistant polystyrene, polycarbonate resins, compounds and blends, and polypropylene compounds. Trinseo S.A. is based in Berwyn, Pennsylvania. “
TSE has been the subject of a number of other reports. Deutsche Bank decreased their target price on Trinseo from $58.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, April 3rd. Alembic Global Advisors set a $75.00 price objective on Trinseo and gave the stock a buy rating in a research report on Thursday, February 14th. ValuEngine upgraded Trinseo from a strong sell rating to a sell rating in a research report on Monday, April 1st. Finally, Citigroup set a $58.00 price objective on Trinseo and gave the stock a buy rating in a research report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $67.50.
Trinseo (NYSE:TSE) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.02. Trinseo had a return on equity of 30.47% and a net margin of 4.61%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company earned $2.76 earnings per share. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. As a group, research analysts predict that Trinseo will post 6.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Thursday, April 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $1.60 annualized dividend and a dividend yield of 3.84%. Trinseo’s dividend payout ratio is presently 22.07%.
In other news, insider Catherine C. Keenan sold 2,082 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $44.56, for a total transaction of $92,773.92. Following the completion of the transaction, the insider now directly owns 10,079 shares in the company, valued at $449,120.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TSE. BlueMountain Capital Management LLC boosted its holdings in Trinseo by 154.8% in the first quarter. BlueMountain Capital Management LLC now owns 12,637 shares of the basic materials company’s stock worth $572,000 after purchasing an additional 7,677 shares in the last quarter. Man Group plc boosted its holdings in Trinseo by 58.2% in the first quarter. Man Group plc now owns 335,109 shares of the basic materials company’s stock worth $15,180,000 after purchasing an additional 123,227 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Trinseo by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 256,745 shares of the basic materials company’s stock worth $11,630,000 after purchasing an additional 59,636 shares in the last quarter. Oxford Asset Management LLP boosted its holdings in Trinseo by 283.9% in the first quarter. Oxford Asset Management LLP now owns 49,588 shares of the basic materials company’s stock worth $2,246,000 after purchasing an additional 36,670 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its holdings in Trinseo by 6.5% in the first quarter. Cornercap Investment Counsel Inc. now owns 31,870 shares of the basic materials company’s stock worth $1,444,000 after purchasing an additional 1,940 shares in the last quarter. Institutional investors and hedge funds own 97.49% of the company’s stock.
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 six segments: Latex Binders, Synthetic Rubber, Performance Plastics, Polystyrene, Feedstocks, and Americas Styrenics.
Read More: How is an ETF different from a mutual fund?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Trinseo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trinseo and related companies with MarketBeat.com's FREE daily email newsletter.