Swiss National Bank grew its position in Trinseo S.A. (NYSE:TSE) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,100 shares of the basic materials company’s stock after purchasing an additional 800 shares during the period. Swiss National Bank owned about 0.18% of Trinseo worth $4,463,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. USA Financial Portformulas Corp acquired a new position in Trinseo in the first quarter valued at about $166,000. Bellwether Advisors LLC acquired a new position in shares of Trinseo during the first quarter worth about $191,000. Victory Capital Management Inc. boosted its position in shares of Trinseo by 32.8% during the first quarter. Victory Capital Management Inc. now owns 73,469 shares of the basic materials company’s stock worth $4,678,000 after buying an additional 18,139 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of Trinseo during the first quarter worth about $877,000. Finally, CWM Advisors LLC acquired a new position in shares of Trinseo during the first quarter worth about $456,000. 91.05% of the stock is owned by institutional investors.
In other news, major shareholder M&G Investment Management Ltd sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 14th. The stock was sold at an average price of $65.43, for a total value of $196,290.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Klynne Johnson sold 2,576 shares of the company’s stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $66.92, for a total value of $172,385.92. Following the completion of the transaction, the director now directly owns 8,805 shares in the company, valued at approximately $589,230.60. The disclosure for this sale can be found here. Insiders sold 23,576 shares of company stock worth $1,540,906 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Trinseo (NYSE:TSE) last released its quarterly earnings data on Thursday, May 6th. The basic materials company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $1.34. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $919.00 million. Trinseo had a return on equity of 34.83% and a net margin of 3.53%. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, equities research analysts forecast that Trinseo S.A. will post 8.86 earnings per share for the current fiscal year.
Several research firms have recently weighed in on TSE. Morgan Stanley began coverage on Trinseo in a research report on Wednesday, May 26th. They set an “equal weight” rating for the company. TheStreet upgraded Trinseo from a “c” rating to a “b-” rating in a report on Friday, May 7th. Alembic Global Advisors upped their target price on Trinseo from $60.00 to $80.00 in a report on Monday, March 8th. Citigroup upped their target price on Trinseo from $66.00 to $70.00 in a report on Tuesday, May 11th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Trinseo from $66.00 to $70.00 in a report on Tuesday, May 11th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $58.86.
Trinseo Company Profile
Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in the United States, Europe, 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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