Bank of New York Mellon Corp Cuts Holdings in Trinseo PLC (NYSE:TSE)

Bank of New York Mellon Corp lowered its holdings in Trinseo PLC (NYSE:TSE - Free Report) by 84.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,226 shares of the basic materials company's stock after selling 121,824 shares during the quarter. Bank of New York Mellon Corp owned 0.07% of Trinseo worth $54,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Red Door Wealth Management LLC purchased a new stake in shares of Trinseo during the 2nd quarter worth approximately $35,000. Price T Rowe Associates Inc. MD boosted its position in Trinseo by 40.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,906 shares of the basic materials company's stock worth $132,000 after purchasing an additional 10,036 shares in the last quarter. Quadrature Capital Ltd grew its holdings in Trinseo by 34.3% in the first quarter. Quadrature Capital Ltd now owns 41,552 shares of the basic materials company's stock valued at $157,000 after purchasing an additional 10,608 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Trinseo by 9.1% in the first quarter. Vanguard Group Inc. now owns 1,115,487 shares of the basic materials company's stock valued at $4,217,000 after buying an additional 93,050 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of Trinseo during the 1st quarter worth $30,500,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Angelo N. Chaclas bought 75,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $2.57 per share, with a total value of $192,750.00. Following the purchase, the senior vice president now owns 207,007 shares of the company's stock, valued at $532,007.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Trinseo news, Director Jeffrey J. Cote purchased 100,000 shares of the stock in a transaction on Friday, August 16th. The stock was bought at an average price of $2.81 per share, for a total transaction of $281,000.00. Following the acquisition, the director now directly owns 100,000 shares of the company's stock, valued at $281,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Angelo N. Chaclas acquired 75,000 shares of the business's stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $2.57 per share, for a total transaction of $192,750.00. Following the completion of the acquisition, the senior vice president now owns 207,007 shares in the company, valued at $532,007.99. The disclosure for this purchase can be found here. Insiders bought a total of 265,600 shares of company stock valued at $748,084 over the last 90 days. Insiders own 2.50% of the company's stock.

Trinseo Price Performance

Shares of Trinseo stock opened at $5.49 on Friday. The business has a 50 day moving average price of $3.51 and a 200 day moving average price of $3.29. The company has a market capitalization of $194.13 million, a P/E ratio of -0.27 and a beta of 1.63. Trinseo PLC has a 1 year low of $1.93 and a 1 year high of $8.83.

Trinseo (NYSE:TSE - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported ($1.46) earnings per share for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.37). The company had revenue of $920.00 million during the quarter, compared to analyst estimates of $958.16 million. Trinseo had a negative return on equity of 905.55% and a negative net margin of 12.62%. During the same period last year, the firm earned ($1.92) earnings per share. As a group, research analysts expect that Trinseo PLC will post -6.73 EPS for the current fiscal year.

Trinseo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.73%. Trinseo's dividend payout ratio (DPR) is presently -0.19%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Trinseo from a "hold" rating to a "sell" rating in a research note on Thursday, August 8th.

About Trinseo

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.