Red Door Wealth Management LLC Invests $35,000 in Trinseo PLC (NYSE:TSE)

Red Door Wealth Management LLC purchased a new stake in Trinseo PLC (NYSE:TSE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,000 shares of the basic materials company’s stock, valued at approximately $35,000.

A number of other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in Trinseo by 40.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,906 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 10,036 shares during the period. Quadrature Capital Ltd grew its position in shares of Trinseo by 34.3% in the 1st 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 period. Vanguard Group Inc. increased its stake in Trinseo by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 1,115,487 shares of the basic materials company’s stock worth $4,217,000 after purchasing an additional 93,050 shares in the last quarter. M&G Plc acquired a new stake in Trinseo during the 1st quarter worth approximately $30,500,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Trinseo during the 1st quarter worth approximately $48,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.

Trinseo Price Performance

NYSE:TSE traded up $0.11 on Friday, hitting $2.79. 279,660 shares of the company’s stock were exchanged, compared to its average volume of 477,125. The firm has a 50-day moving average price of $2.60 and a 200-day moving average price of $3.50. Trinseo PLC has a 52 week low of $1.93 and a 52 week high of $12.10. The company has a market cap of $98.65 million, a P/E ratio of -0.13 and a beta of 1.60.

Trinseo (NYSE:TSE) last released its earnings results on Tuesday, August 6th. The basic materials company reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.37). The company had revenue of $920.00 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted ($1.92) EPS. On average, research analysts expect that Trinseo PLC will post -6.57 earnings per share for the current fiscal year.

Trinseo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a $0.01 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.04 annualized dividend and a dividend yield of 1.43%. Trinseo’s dividend payout ratio is presently -0.19%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Trinseo from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th.

Insider Activity at Trinseo

In other news, SVP Angelo N. Chaclas acquired 75,000 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $2.57 per share, for a total transaction of $192,750.00. Following the purchase, the senior vice president now directly owns 207,007 shares of the company’s stock, valued at $532,007.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Trinseo news, SVP Angelo N. Chaclas acquired 75,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $2.57 per share, with a total value of $192,750.00. Following the completion of the transaction, the senior vice president now directly owns 207,007 shares in the company, valued at approximately $532,007.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank A. Bozich bought 40,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $2.57 per share, for a total transaction 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. The disclosure for this purchase can be found here. 2.50% of the stock is owned by company insiders.

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.