Rhumbline Advisers Has $43,000 Position in Trinseo PLC (NYSE:TSE)

Rhumbline Advisers trimmed its stake in shares of Trinseo PLC (NYSE:TSE) by 66.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,409 shares of the basic materials company’s stock after selling 36,464 shares during the quarter. Rhumbline Advisers owned approximately 0.05% of Trinseo worth $43,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. M&G Plc bought a new stake in shares of Trinseo in the first quarter worth $30,500,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in Trinseo by 45.3% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,627,240 shares of the basic materials company’s stock valued at $13,620,000 after acquiring an additional 507,200 shares during the last quarter. Vanguard Group Inc. increased its position in Trinseo by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 1,115,487 shares of the basic materials company’s stock valued at $4,217,000 after purchasing an additional 93,050 shares during the period. Los Angeles Capital Management LLC bought a new position in Trinseo during the first quarter worth $330,000. Finally, Summit Securities Group LLC acquired a new position in Trinseo in the second quarter valued at $133,000. Institutional investors own 82.69% of the company’s stock.

Trinseo Stock Up 11.5 %

TSE stock opened at $5.70 on Wednesday. The firm has a market capitalization of $201.18 million, a PE ratio of -0.28 and a beta of 1.63. Trinseo PLC has a twelve month low of $1.93 and a twelve month high of $8.83. The stock’s 50 day moving average is $3.62 and its 200-day moving average is $3.27.

Trinseo (NYSE:TSE) last announced its earnings results on Tuesday, August 6th. The basic materials company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.37). Trinseo had a negative net margin of 12.62% and a negative return on equity of 905.55%. The firm had revenue of $920.00 million during the quarter, compared to analysts’ expectations of $958.16 million. During the same quarter in the prior year, the company earned ($1.92) EPS. On average, equities research analysts anticipate that Trinseo PLC will post -6.73 earnings per share for the current fiscal year.

Trinseo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.04 annualized dividend and a yield of 0.70%. Trinseo’s payout ratio is currently -0.19%.

Insider Buying and Selling

In related news, Director Jeffrey J. Cote purchased 100,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $2.81 per share, with a total value of $281,000.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $281,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Trinseo news, Director Jeffrey J. Cote bought 100,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was purchased at an average price of $2.81 per share, for a total transaction of $281,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $281,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey J. Cote purchased 50,600 shares of the stock in a transaction dated Monday, August 19th. The stock was acquired at an average cost of $3.39 per share, for a total transaction of $171,534.00. Following the transaction, the director now owns 150,600 shares of the company’s stock, valued at $510,534. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 265,600 shares of company stock worth $748,084. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Trinseo from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th.

About Trinseo

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.