Trinseo S.A. (TSE) Sees Large Increase in Short Interest
Trinseo S.A. (NYSE:TSE) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,412,049 shares, a growth of 40.8% from the October 13th total of 1,003,080 shares. Based on an average daily volume of 634,367 shares, the days-to-cover ratio is presently 2.2 days. Currently, 3.3% of the shares of the company are short sold.
Shares of Trinseo (TSE) opened at $69.75 on Thursday. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.59 and a quick ratio of 1.78. The firm has a market capitalization of $3,098.66, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 1.17 and a beta of 2.36. Trinseo has a twelve month low of $53.40 and a twelve month high of $73.40.
Trinseo (NYSE:TSE) last posted its earnings results on Thursday, November 2nd. The basic materials company reported $2.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by ($0.04). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. Trinseo had a net margin of 6.78% and a return on equity of 65.80%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the company posted $1.70 EPS. equities research analysts forecast that Trinseo will post 7.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th were given a $0.36 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.44 annualized dividend and a dividend yield of 2.06%. Trinseo’s dividend payout ratio is currently 22.54%.
A number of brokerages recently weighed in on TSE. Alembic Global Advisors reaffirmed a “buy” rating on shares of Trinseo in a report on Tuesday, September 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Trinseo in a report on Tuesday, August 29th. Zacks Investment Research raised Trinseo from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Wednesday, October 11th. Barclays PLC lowered their target price on Trinseo from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Finally, ValuEngine lowered Trinseo from a “strong-buy” rating to a “buy” rating in a report on Monday, August 14th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Trinseo currently has a consensus rating of “Buy” and an average target price of $77.00.
In related news, Director Jeffrey J. Cote sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $65.01, for a total transaction of $325,050.00. Following the transaction, the director now owns 15,640 shares of the company’s stock, valued at $1,016,756.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy M. Stedman sold 5,399 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $67.38, for a total value of $363,784.62. Following the transaction, the insider now directly owns 18,298 shares in the company, valued at approximately $1,232,919.24. The disclosure for this sale can be found here. Insiders have sold 45,442 shares of company stock valued at $3,116,095 in the last 90 days. Company insiders own 0.26% of the company’s stock.
Several large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC lifted its position in shares of Trinseo by 815.1% in the third quarter. Cubist Systematic Strategies LLC now owns 14,990 shares of the basic materials company’s stock valued at $1,006,000 after acquiring an additional 13,352 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Trinseo by 428.2% in the third quarter. Point72 Asset Management L.P. now owns 686,600 shares of the basic materials company’s stock valued at $46,071,000 after acquiring an additional 556,600 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Trinseo in the third quarter valued at $2,673,000. Impala Asset Management LLC purchased a new stake in shares of Trinseo in the third quarter valued at $46,812,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Trinseo by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 886,874 shares of the basic materials company’s stock valued at $59,509,000 after acquiring an additional 27,898 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.
Trinseo SA is a materials company engaged in the manufacture and marketing of synthetic rubber, latex and plastics. The Company’s segments include Latex Binders, Synthetic Rubber, Performance Plastics, Basic Plastics, Feedstocks and Americas Styrenics. The Latex Binders segment produces styrene-butadiene latex (SB latex) and other latex polymers and binders.
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