Trinseo (NYSE:TSE) Cut to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Trinseo (NYSE:TSE) from a hold rating to a strong sell rating in a research report released on Thursday, Zacks.com reports.

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. ValuEngine cut shares of Trinseo from a sell rating to a strong sell rating in a research report on Friday, March 15th. Deutsche Bank dropped their price target on shares of Trinseo from $58.00 to $55.00 and set a buy rating for the company in a research report on Wednesday, April 3rd. Finally, TheStreet cut shares of Trinseo from a b- rating to a c+ rating in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $66.88.

Trinseo stock opened at $40.60 on Thursday. Trinseo has a 12-month low of $36.65 and a 12-month high of $82.18. The firm has a market capitalization of $1.66 billion, a PE ratio of 5.60, a P/E/G ratio of 0.56 and a beta of 2.09. The stock’s 50-day moving average price is $39.90. The company has a current ratio of 2.81, a quick ratio of 2.05 and a debt-to-equity ratio of 1.61.

Trinseo (NYSE:TSE) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.02. Trinseo had a net margin of 4.61% and a return on equity of 30.47%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $2.76 earnings per share. Trinseo’s revenue was down 9.7% compared to the same quarter last year. Research analysts anticipate that Trinseo will post 6.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Wednesday, July 10th. Trinseo’s dividend payout ratio (DPR) is currently 22.07%.

In related news, insider Catherine C. Keenan sold 12,264 shares of Trinseo stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $38.17, for a total value of $468,116.88. Following the completion of the transaction, the insider now owns 15,901 shares in the company, valued at $606,941.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Catherine C. Keenan sold 5,050 shares of Trinseo stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $38.41, for a total transaction of $193,970.50. Following the completion of the transaction, the insider now owns 15,901 shares of the company’s stock, valued at approximately $610,757.41. The disclosure for this sale can be found here. Insiders sold 19,396 shares of company stock valued at $754,861 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Trinseo by 35.1% in the fourth quarter. Bank of America Corp DE now owns 369,335 shares of the basic materials company’s stock valued at $16,909,000 after purchasing an additional 95,965 shares in the last quarter. Norges Bank purchased a new position in Trinseo in the fourth quarter worth approximately $34,146,000. Susquehanna Fundamental Investments LLC lifted its stake in Trinseo by 184.4% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 15,900 shares of the basic materials company’s stock worth $728,000 after acquiring an additional 10,309 shares during the last quarter. LSV Asset Management lifted its stake in Trinseo by 5.1% in the first quarter. LSV Asset Management now owns 2,470,156 shares of the basic materials company’s stock worth $111,898,000 after acquiring an additional 118,850 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Trinseo in the first quarter worth approximately $364,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

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 six segments: Latex Binders, Synthetic Rubber, Performance Plastics, Polystyrene, Feedstocks, and Americas Styrenics.

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