Trinseo PLC (TSE) To Go Ex-Dividend on October 4th

Posted by Defense World Staff on Oct 2nd, 2023

Trinseo PLC (NYSE:TSE – Get Free Report) declared a quarterly dividend on Thursday, September 21st, Wall Street Journal reports. Shareholders of record on Thursday, October 5th will be paid a dividend of 0.01 per share by the basic materials company on Thursday, October 19th. This represents a $0.04 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Wednesday, October 4th.

Trinseo has decreased its dividend payment by an average of 7.2% per year over the last three years. Trinseo has a dividend payout ratio of -25.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Trinseo to earn ($0.69) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -5.8%.

Trinseo Trading Up 0.2 %

Shares of TSE opened at $8.17 on Monday. The stock has a fifty day moving average price of $11.66 and a two-hundred day moving average price of $14.91. The company has a current ratio of 1.90, a quick ratio of 1.28 and a debt-to-equity ratio of 108.42. Trinseo has a 52-week low of $7.43 and a 52-week high of $30.53.

Trinseo (NYSE:TSE – Get Free Report) last released its earnings results on Thursday, August 3rd. The basic materials company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.68). Trinseo had a negative return on equity of 70.09% and a negative net margin of 21.47%. The firm had revenue of $962.60 million for the quarter, compared to the consensus estimate of $1.19 billion. As a group, equities research analysts forecast that Trinseo will post -4.45 earnings per share for the current year.

Insider Activity

In related news, CEO Frank A. Bozich bought 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average price of $8.07 per share, for a total transaction of $64,560.00. Following the completion of the acquisition, the chief executive officer now owns 192,653 shares of the company’s stock, valued at approximately $1,554,709.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Frank A. Bozich bought 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average price of $8.07 per share, for a total transaction of $64,560.00. Following the completion of the acquisition, the chief executive officer now owns 192,653 shares of the company’s stock, valued at approximately $1,554,709.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Phillip Stasse bought 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average price of $8.89 per share, for a total transaction of $133,350.00. Following the acquisition, the chief financial officer now directly owns 105,552 shares of the company’s stock, valued at approximately $938,357.28. The disclosure for this purchase can be found here. Insiders have bought a total of 45,500 shares of company stock worth $379,160 over the last 90 days. 2.50% of the stock is currently owned by insiders.

Institutional Trading of Trinseo

A number of institutional investors and hedge funds have recently bought and sold shares of TSE. XTX Topco Ltd purchased a new position in Trinseo in the second quarter worth about $268,000. Y Intercept Hong Kong Ltd bought a new stake in Trinseo in the second quarter worth about $152,000. Kiwi Wealth Investments Limited Partnership lifted its stake in Trinseo by 418.8% in the second quarter. Kiwi Wealth Investments Limited Partnership now owns 83,100 shares of the basic materials company’s stock worth $1,053,000 after purchasing an additional 67,083 shares during the last quarter. Quarry LP lifted its stake in Trinseo by 126.7% in the second quarter. Quarry LP now owns 3,738 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 2,089 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Trinseo by 464.7% in the second quarter. Royal Bank of Canada now owns 14,237 shares of the basic materials company’s stock worth $180,000 after purchasing an additional 11,716 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Trinseo from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, August 15th. Barclays lowered their price objective on Trinseo from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Monday, August 7th. StockNews.com downgraded Trinseo from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Finally, Jefferies Financial Group reduced their price target on shares of Trinseo from $33.00 to $28.00 in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.20.

View Our Latest Stock Report on TSE

About Trinseo

(Get Free Report)

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. The company operates in six segments: Engineered Materials, Latex Binders, Base Plastics, Polystyrene, Feedstocks, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction application; and produces activated methyl methacrylates.