Trinseo (NYSE:TSE) Upgraded at StockNews.com

Trinseo (NYSE:TSE) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Trinseo Trading Up 2.8 %

TSE stock opened at $6.51 on Thursday. Trinseo has a 12-month low of $1.93 and a 12-month high of $8.83. The stock has a market cap of $230.19 million, a price-to-earnings ratio of -0.51 and a beta of 1.63. The business’s 50-day moving average is $4.18 and its 200 day moving average is $3.40.

Trinseo (NYSE:TSE) last issued its earnings results on Tuesday, August 6th. The basic materials company reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.37). The business had revenue of $920.00 million for the quarter, compared to the consensus estimate of $958.16 million. During the same period in the previous year, the business posted ($1.92) earnings per share. As a group, equities analysts forecast that Trinseo will post -6.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Frank A. Bozich acquired 40,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $2.57 per share, for a total transaction of $102,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 462,204 shares in the company, valued at approximately $1,187,864.28. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Jeffrey J. Cote purchased 100,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $2.81 per share, with a total value of $281,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $281,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Frank A. Bozich bought 40,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $2.57 per share, with a total value of $102,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 462,204 shares of the company’s stock, valued at approximately $1,187,864.28. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 265,600 shares of company stock worth $748,084 in the last quarter. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trinseo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd lifted its stake in shares of Trinseo by 16.7% in the 4th quarter. Quadrature Capital Ltd now owns 30,944 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 4,439 shares during the period. Los Angeles Capital Management LLC purchased a new position in Trinseo in the 1st quarter valued at $330,000. StoneX Group Inc. acquired a new stake in Trinseo in the first quarter valued at $52,000. State Board of Administration of Florida Retirement System acquired a new position in Trinseo in the 1st quarter valued at about $48,000. Finally, M&G Plc purchased a new stake in shares of Trinseo during the 1st quarter worth about $30,500,000. Hedge funds and other institutional investors own 82.69% of the company’s stock.

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.