Trinseo PLC (NYSE:TSE) Short Interest Down 18.9% in September

Trinseo PLC (NYSE:TSE) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 693,100 shares, a decrease of 18.9% from the September 15th total of 855,000 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average trading volume of 498,500 shares, the short-interest ratio is presently 1.4 days.

Trinseo Stock Down 5.5 %

TSE traded down $0.36 during trading on Tuesday, reaching $6.17. The company’s stock had a trading volume of 243,387 shares, compared to its average volume of 486,135. The company has a market cap of $218.17 million, a price-to-earnings ratio of -0.51 and a beta of 1.63. The firm has a fifty day simple moving average of $4.34 and a two-hundred day simple moving average of $3.45. Trinseo has a 1 year low of $1.93 and a 1 year high of $8.83.

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 during the quarter, compared to analyst estimates of $958.16 million. During the same period in the previous year, the business earned ($1.92) earnings per share. As a group, equities analysts forecast that Trinseo will post -6.73 EPS for the current fiscal year.

Trinseo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, October 10th. Trinseo’s dividend payout ratio (DPR) is presently -0.32%.

Insiders Place Their Bets

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

Institutional Trading of Trinseo

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new stake in Trinseo in the second quarter valued at approximately $55,000. Cubist Systematic Strategies LLC raised its holdings in shares of Trinseo by 194.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 101,614 shares of the basic materials company’s stock valued at $235,000 after buying an additional 67,054 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in Trinseo by 773.5% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 78,162 shares of the basic materials company’s stock worth $181,000 after acquiring an additional 69,214 shares in the last quarter. Algert Global LLC purchased a new position in Trinseo during the 2nd quarter valued at about $77,000. Finally, Squarepoint Ops LLC grew its position in Trinseo by 97.7% in the 2nd quarter. Squarepoint Ops LLC now owns 129,500 shares of the basic materials company’s stock valued at $299,000 after acquiring an additional 63,982 shares in the last quarter. 82.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Trinseo from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th.

Trinseo Company 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.