Zacks Investment Research Lowers Trinseo (TSE) to Hold
Zacks Investment Research lowered shares of Trinseo (NYSE:TSE) from a buy rating to a hold rating in a research report released on Saturday morning. Zacks Investment Research currently has $87.00 price objective on the basic materials company’s stock.
According to Zacks, “Trinseo S.A. is a global materials company and manufacturer of plastics, latex and rubber. The Company’s technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Its major products include styrene-butadiene latex, styrene-acrylate latex, solution styrene-butadiene rubber, lithium polybutadiene rubber, emulsion styrene-butadiene rubber, nickel polybutadiene rubber, polystyrene, expandable polystyrene, acrylonitrile-butadiene-styrene, styrene-acrylonitrile, ignition resistant polystyrene, polycarbonate resins, compounds and blends, and polypropylene compounds. Trinseo S.A. is based in Berwyn, Pennsylvania. “
Other research analysts have also issued research reports about the stock. Jefferies Group raised their price objective on shares of Trinseo to $97.00 and gave the company a buy rating in a research note on Tuesday, January 30th. Deutsche Bank raised their price objective on shares of Trinseo to $92.00 and gave the company a buy rating in a research note on Monday, January 15th. Alembic Global Advisors reissued a buy rating on shares of Trinseo in a research note on Monday, December 11th. Barclays raised their price objective on shares of Trinseo from $73.00 to $78.00 and gave the company an equal weight rating in a research note on Tuesday, November 7th. Finally, Wells Fargo & Co reissued an outperform rating and issued a $84.00 price objective (up previously from $79.00) on shares of Trinseo in a research note on Wednesday, January 17th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $85.50.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 23rd. Investors of record on Tuesday, January 9th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, January 8th. This represents a $1.44 dividend on an annualized basis and a yield of 1.93%. Trinseo’s dividend payout ratio is currently 22.54%.
A number of institutional investors have recently modified their holdings of the stock. Balyasny Asset Management LLC lifted its stake in Trinseo by 0.4% in the second quarter. Balyasny Asset Management LLC now owns 9,700 shares of the basic materials company’s stock worth $666,000 after acquiring an additional 40 shares during the last quarter. Citigroup Inc. lifted its stake in Trinseo by 10.7% in the second quarter. Citigroup Inc. now owns 2,698 shares of the basic materials company’s stock worth $185,000 after acquiring an additional 260 shares during the last quarter. National Asset Management Inc. lifted its stake in Trinseo by 9.1% in the second quarter. National Asset Management Inc. now owns 3,857 shares of the basic materials company’s stock worth $265,000 after acquiring an additional 323 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Trinseo by 14.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,203 shares of the basic materials company’s stock worth $219,000 after acquiring an additional 403 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Trinseo by 44.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,465 shares of the basic materials company’s stock worth $179,000 after acquiring an additional 756 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.
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Trinseo Company 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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