CIBC World Markets Inc. Invests $1.04 Million in Trinseo S.A. (TSE) Stock

CIBC World Markets Inc. purchased a new position in Trinseo S.A. (NYSE:TSE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,170 shares of the basic materials company’s stock, valued at approximately $1,042,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TSE. BlackRock Inc. lifted its position in Trinseo by 80,972.2% in the first quarter. BlackRock Inc. now owns 2,152,468 shares of the basic materials company’s stock worth $144,430,000 after buying an additional 2,149,813 shares during the last quarter. Alliancebernstein L.P. lifted its position in Trinseo by 1,244.1% in the first quarter. Alliancebernstein L.P. now owns 1,746,047 shares of the basic materials company’s stock worth $117,160,000 after buying an additional 1,616,145 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in Trinseo in the first quarter worth $69,072,000. Marshall Wace North America L.P. bought a new stake in Trinseo in the first quarter worth $69,072,000. Finally, Renaissance Technologies LLC lifted its position in Trinseo by 19.2% in the first quarter. Renaissance Technologies LLC now owns 1,956,900 shares of the basic materials company’s stock worth $131,308,000 after buying an additional 315,500 shares during the last quarter. Institutional investors own 97.82% of the company’s stock.

A number of analysts recently issued reports on the company. Citigroup Inc. raised their price target on Trinseo from $67.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 12th. Deutsche Bank AG restated a “buy” rating and issued a $74.00 price target (up from $72.00) on shares of Trinseo in a research report on Wednesday, August 9th. Zacks Investment Research upgraded 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. Alembic Global Advisors reiterated a “buy” rating on shares of Trinseo in a research note on Tuesday, September 5th. Finally, BidaskClub upgraded Trinseo from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $75.80.

Shares of Trinseo S.A. (NYSE:TSE) opened at 68.00 on Friday. Trinseo S.A. has a 1-year low of $44.70 and a 1-year high of $72.60. The firm has a 50-day moving average price of $64.69 and a 200-day moving average price of $66.36. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 9.63 and a beta of 2.39.

Trinseo (NYSE:TSE) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company earned $2.30 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. Equities analysts forecast that Trinseo S.A. will post $6.63 EPS for the current year.

Trinseo declared that its Board of Directors has approved a stock buyback plan on Thursday, June 22nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the basic materials company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

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In other news, insider Christopher D. Pappas sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $69.49, for a total value of $1,737,250.00. Following the transaction, the insider now owns 265,240 shares of the company’s stock, valued at approximately $18,431,527.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey J. Cote sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $65.01, for a total value of $325,050.00. Following the completion of the transaction, the director now directly owns 15,640 shares in the company, valued at approximately $1,016,756.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,399 shares of company stock worth $5,914,585. Corporate insiders own 0.65% of the company’s stock.

Trinseo Profile

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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Institutional Ownership by Quarter for Trinseo (NYSE:TSE)

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