AQR Capital Management LLC Sells 145,578 Shares of Trinseo PLC (NYSE:TSE)

AQR Capital Management LLC lessened its position in shares of Trinseo PLC (NYSE:TSE) by 30.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 338,495 shares of the basic materials company’s stock after selling 145,578 shares during the period. AQR Capital Management LLC owned approximately 0.96% of Trinseo worth $782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSE. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Trinseo in the 2nd quarter valued at $25,000. Ground Swell Capital LLC purchased a new stake in shares of Trinseo in the 2nd quarter valued at $29,000. Red Door Wealth Management LLC purchased a new stake in shares of Trinseo in the 2nd quarter valued at $35,000. Meeder Asset Management Inc. purchased a new stake in shares of Trinseo in the 2nd quarter valued at $37,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Trinseo in the 1st quarter valued at $48,000. Institutional investors own 82.69% of the company’s stock.

Trinseo Price Performance

Shares of Trinseo stock opened at $6.51 on Monday. Trinseo PLC has a 1 year low of $1.93 and a 1 year high of $8.83. The company has a 50-day moving average of $4.25 and a 200 day moving average of $3.43. The firm has a market cap of $230.19 million, a price-to-earnings ratio of -0.51 and a beta of 1.63.

Trinseo (NYSE:TSE) last announced its quarterly 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 firm had revenue of $920.00 million for the quarter, compared to analysts’ expectations of $958.16 million. During the same quarter in the previous year, the firm posted ($1.92) earnings per share. On average, equities analysts anticipate that Trinseo PLC will post -6.73 EPS for the current year.

Trinseo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a $0.01 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.61%. Trinseo’s dividend payout ratio (DPR) is presently -0.32%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Trinseo

In related news, CEO Frank A. Bozich bought 40,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 462,204 shares of the company’s stock, valued at $1,187,864.28. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Jeffrey J. Cote bought 50,600 shares of the stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of $3.39 per share, for a total transaction of $171,534.00. Following the acquisition, the director now directly owns 150,600 shares in the company, valued at approximately $510,534. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank A. Bozich purchased 40,000 shares of Trinseo stock in a transaction dated 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 transaction, the chief executive officer now owns 462,204 shares in the company, valued at approximately $1,187,864.28. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 265,600 shares of company stock worth $748,084 over the last ninety days. Company insiders own 2.70% of the company’s stock.

Trinseo 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.