Millennium Management LLC decreased its stake in Trinseo S.A. (NYSE:TSE) by 55.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,909 shares of the basic materials company’s stock after selling 82,623 shares during the quarter. Millennium Management LLC owned approximately 0.16% of Trinseo worth $3,017,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in TSE. Prudential PLC lifted its position in Trinseo by 32.6% in the 4th quarter. Prudential PLC now owns 6,574,844 shares of the basic materials company’s stock worth $300,996,000 after buying an additional 1,615,970 shares in the last quarter. Boston Partners lifted its stake in shares of Trinseo by 35.3% in the 4th quarter. Boston Partners now owns 4,252,360 shares of the basic materials company’s stock valued at $194,673,000 after purchasing an additional 1,108,894 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Trinseo by 176.9% in the 3rd quarter. Teachers Advisors LLC now owns 291,767 shares of the basic materials company’s stock valued at $22,845,000 after purchasing an additional 186,402 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of Trinseo by 11.1% in the 4th quarter. Macquarie Group Ltd. now owns 1,633,445 shares of the basic materials company’s stock valued at $74,780,000 after purchasing an additional 163,607 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new stake in shares of Trinseo in the 3rd quarter valued at $11,047,000.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Trinseo from a “hold” rating to a “strong sell” rating in a research note on Saturday, April 6th. Deutsche Bank reduced their price objective on shares of Trinseo from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. ValuEngine raised shares of Trinseo from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Citigroup set a $58.00 price objective on shares of Trinseo and gave the company a “buy” rating in a research note on Friday, February 15th. Finally, Alembic Global Advisors set a $75.00 price objective on shares of Trinseo and gave the company a “buy” rating in a research note on Thursday, February 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $67.50.
Trinseo (NYSE:TSE) last released its quarterly earnings data on Wednesday, February 13th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. Trinseo had a net margin of 6.32% and a return on equity of 40.17%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business earned $2.14 EPS. Trinseo’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities analysts forecast that Trinseo S.A. will post 6.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, April 11th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Wednesday, April 10th. Trinseo’s dividend payout ratio is 22.07%.
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.
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