Trinseo S.A. (NYSE:TSE) Cut to “Hold” at BidaskClub

Trinseo S.A. (NYSE:TSE) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 25th.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Trinseo from a “hold” rating to a “strong-buy” rating and set a $82.00 price target for the company in a research report on Friday, July 21st. Jefferies Group LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of Trinseo in a research report on Friday, June 16th. Finally, Citigroup Inc. upped their price target on shares of Trinseo from $67.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $75.80.

Trinseo (NYSE TSE) traded up 1.02% during midday trading on Tuesday, hitting $59.35. The stock had a trading volume of 840,051 shares. Trinseo has a 12-month low of $44.70 and a 12-month high of $72.60. The stock has a 50-day moving average price of $67.61 and a 200 day moving average price of $67.04. The firm has a market cap of $2.60 billion, a P/E ratio of 8.41 and a beta of 2.38.

Trinseo (NYSE:TSE) last announced its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by $0.41. Trinseo had a net margin of 7.88% and a return on equity of 67.05%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm earned $2.30 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities analysts anticipate that Trinseo will post $6.79 earnings per share for the current fiscal year.

Trinseo announced that its Board of Directors has authorized a share repurchase program on Thursday, June 22nd that allows the company to buyback 2,000,000 shares. This buyback authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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In other Trinseo news, insider Christopher D. Pappas sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $67.24, for a total value of $1,344,800.00. Following the completion of the transaction, the insider now directly owns 260,240 shares of the company’s stock, valued at approximately $17,498,537.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher D. Pappas sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $71.04, for a total transaction of $1,776,000.00. Following the completion of the transaction, the insider now directly owns 265,240 shares of the company’s stock, valued at $18,842,649.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,000 shares of company stock valued at $6,138,050. 0.65% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of TSE. Envestnet Asset Management Inc. boosted its position in Trinseo by 17.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,791 shares of the basic materials company’s stock worth $225,000 after buying an additional 572 shares during the last quarter. Norges Bank purchased a new position in Trinseo during the fourth quarter worth $34,832,000. Macquarie Group Ltd. boosted its position in Trinseo by 6.6% in the fourth quarter. Macquarie Group Ltd. now owns 932,382 shares of the basic materials company’s stock worth $55,290,000 after buying an additional 57,407 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Trinseo by 82.8% in the first quarter. Bank of Montreal Can now owns 169,792 shares of the basic materials company’s stock worth $11,393,000 after buying an additional 76,897 shares during the period. Finally, BLB&B Advisors LLC raised its stake in shares of Trinseo by 27.9% in the first quarter. BLB&B Advisors LLC now owns 8,093 shares of the basic materials company’s stock worth $543,000 after buying an additional 1,766 shares during the period.

About Trinseo

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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