Trinseo PLC (NYSE:TSE) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in shares of Trinseo PLC (NYSE:TSE - Free Report) by 37.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 128,700 shares of the basic materials company's stock after selling 76,900 shares during the period. Renaissance Technologies LLC owned approximately 0.36% of Trinseo worth $297,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TSE. M&G Plc purchased a new stake in Trinseo during the first quarter worth $30,500,000. Vanguard Group Inc. raised its holdings in Trinseo by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 1,115,487 shares of the basic materials company's stock valued at $4,217,000 after acquiring an additional 93,050 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Trinseo in the first quarter valued at about $48,000. Los Angeles Capital Management LLC lifted its stake in shares of Trinseo by 388.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 425,506 shares of the basic materials company's stock valued at $983,000 after purchasing an additional 338,318 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Trinseo by 40.4% during the 1st 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 during the period. 82.69% of the stock is currently owned by institutional investors.

Trinseo Stock Performance

Shares of TSE traded up $0.18 during trading hours on Friday, reaching $6.51. The company had a trading volume of 485,188 shares, compared to its average volume of 536,830. Trinseo PLC has a 12-month low of $1.93 and a 12-month high of $8.83. The firm has a 50 day simple moving average of $4.25 and a 200-day simple moving average of $3.42.

Trinseo (NYSE:TSE - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($1.46) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.37). The firm had revenue of $920.00 million during the quarter, compared to analyst estimates of $958.16 million. During the same quarter in the prior year, the company earned ($1.92) earnings per share. Equities research analysts predict that Trinseo PLC will post -6.73 earnings per share for the current fiscal year.

Trinseo Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, October 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.61%. Trinseo's dividend payout ratio (DPR) is presently -0.32%.

Insider Activity at Trinseo

In other Trinseo news, Director Jeffrey J. Cote purchased 100,000 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average price of $2.81 per share, for a total transaction of $281,000.00. Following the completion of the purchase, the director now owns 100,000 shares in the company, valued at $281,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Angelo N. Chaclas bought 75,000 shares of the business's stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $2.57 per share, for a total transaction of $192,750.00. Following the purchase, the senior vice president now owns 207,007 shares in the company, valued at $532,007.99. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey J. Cote purchased 100,000 shares of Trinseo stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $2.81 per share, for a total transaction of $281,000.00. Following the transaction, 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. In the last three months, insiders bought 265,600 shares of company stock valued at $748,084. Corporate insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

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

Trinseo 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.