Trinseo (NYSE:TSE) Shares Pass Below 200 Day Moving Average - Here's What Happened

Trinseo PLC (NYSE:TSE - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.67 and traded as low as $3.53. Trinseo shares last traded at $3.63, with a volume of 284,402 shares traded.

Wall Street Analysts Forecast Growth

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

Trinseo Stock Up 0.8 %

The stock has a market capitalization of $129.22 million, a price-to-earnings ratio of -0.26 and a beta of 1.64. The stock's 50-day simple moving average is $4.90 and its 200 day simple moving average is $3.67.

Trinseo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.04 dividend on an annualized basis and a yield of 1.10%. Trinseo's payout ratio is presently -0.28%.

Insider Buying and Selling

In related news, Director Jeffrey J. Cote acquired 50,600 shares of the company's stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average cost of $3.39 per share, for a total transaction of $171,534.00. Following the completion of the acquisition, the director now directly owns 150,600 shares in the company, valued at approximately $510,534. The trade was a 50.60 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Trinseo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV bought a new stake in shares of Trinseo during the 2nd quarter worth approximately $25,000. Ground Swell Capital LLC acquired a new stake in Trinseo in the second quarter valued at $29,000. Red Door Wealth Management LLC bought a new position in shares of Trinseo in the 2nd quarter valued at about $35,000. Meeder Asset Management Inc. acquired a new position in shares of Trinseo during the 2nd quarter worth about $37,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Trinseo in the 1st quarter valued at about $48,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.

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.