Trinseo (NYSE:TSE) Releases Quarterly Earnings Results, Misses Expectations By $0.23 EPS

Trinseo (NYSE:TSE) announced its quarterly earnings data on Wednesday. The basic materials company reported ($1.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.23), reports. The firm had revenue of $867.70 million for the quarter, compared to analyst estimates of $855.10 million.

Trinseo Trading Down 0.3 %

Shares of NYSE TSE traded down $0.01 during midday trading on Friday, reaching $3.87. 76,959 shares of the stock were exchanged, compared to its average volume of 473,435. The business has a 50-day simple moving average of $4.96 and a two-hundred day simple moving average of $3.64. Trinseo has a 12 month low of $1.93 and a 12 month high of $8.83.

Trinseo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were paid a $0.01 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.03%. Trinseo’s dividend payout ratio (DPR) is presently -0.28%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Trinseo from a “sell” rating to a “hold” rating in a report on Thursday, October 10th.

Insiders Place Their Bets

In other Trinseo news, CEO Frank A. Bozich acquired 40,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $2.57 per share, with a total value of $102,800.00. Following the completion of the transaction, the chief executive officer now directly owns 462,204 shares in the company, valued at $1,187,864.28. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Trinseo news, CEO Frank A. Bozich purchased 40,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $2.57 per share, with a total value of $102,800.00. Following the transaction, the chief executive officer now directly owns 462,204 shares of the company’s stock, valued at $1,187,864.28. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Angelo N. Chaclas acquired 75,000 shares of Trinseo stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $2.57 per share, with a total value of $192,750.00. Following the completion of the purchase, the senior vice president now owns 207,007 shares in the company, valued at approximately $532,007.99. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 265,600 shares of company stock worth $748,084. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Trinseo

Several hedge funds and other institutional investors have recently made changes to their positions in the company. M&G Plc acquired a new stake in Trinseo during the first quarter worth approximately $30,500,000. Los Angeles Capital Management LLC lifted its position in Trinseo by 388.0% during the second quarter. Los Angeles Capital Management LLC now owns 425,506 shares of the basic materials company’s stock worth $983,000 after purchasing an additional 338,318 shares during the period. Marshall Wace LLP acquired a new stake in shares of Trinseo during the 2nd quarter worth approximately $455,000. Vanguard Group Inc. lifted its stake in Trinseo by 9.1% during the first quarter. Vanguard Group Inc. now owns 1,115,487 shares of the basic materials company’s stock worth $4,217,000 after purchasing an additional 93,050 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Trinseo by 773.5% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 78,162 shares of the basic materials company’s stock valued at $181,000 after purchasing an additional 69,214 shares in the last quarter. 82.69% of the stock is owned by institutional investors.

Trinseo Company Profile

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.