Trinseo PLC (NYSE:TSE) Plans $0.01 Quarterly Dividend

Trinseo PLC (NYSE:TSE) declared a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Stockholders of record on Thursday, January 4th will be given a dividend of 0.01 per share by the basic materials company on Thursday, January 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, January 3rd.

Trinseo has decreased its dividend by an average of 7.2% annually over the last three years. Trinseo has a payout ratio of -2.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Trinseo to earn ($2.05) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -2.0%.

Trinseo Stock Performance

TSE traded up $0.16 on Friday, reaching $6.79. The stock had a trading volume of 337,606 shares, compared to its average volume of 567,158. Trinseo has a fifty-two week low of $5.48 and a fifty-two week high of $30.53. The firm has a 50-day moving average of $7.04 and a 200-day moving average of $11.75. The company has a debt-to-equity ratio of 108.42, a current ratio of 1.89 and a quick ratio of 1.24.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays reduced their price target on Trinseo from $15.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. StockNews.com upgraded Trinseo from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Jefferies Financial Group lowered Trinseo from a “buy” rating to a “hold” rating and reduced their price target for the company from $22.00 to $9.00 in a research report on Wednesday, October 4th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Trinseo from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, August 15th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.75.

Insider Transactions at Trinseo

In related news, CEO Frank A. Bozich acquired 8,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was purchased at an average cost of $8.07 per share, with a total value of $64,560.00. Following the completion of the purchase, the chief executive officer now directly owns 192,653 shares in the company, valued at approximately $1,554,709.71. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other Trinseo news, SVP Angelo N. Chaclas purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was bought at an average cost of $8.07 per share, with a total value of $161,400.00. Following the completion of the transaction, the senior vice president now owns 88,508 shares of the company’s stock, valued at approximately $714,259.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank A. Bozich acquired 8,000 shares of Trinseo stock in a transaction on Tuesday, September 12th. The shares were purchased at an average cost of $8.07 per share, with a total value of $64,560.00. Following the completion of the acquisition, the chief executive officer now owns 192,653 shares of the company’s stock, valued at approximately $1,554,709.71. The disclosure for this purchase can be found here. Insiders purchased a total of 45,500 shares of company stock valued at $379,160 over the last ninety days. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trinseo

Several institutional investors and hedge funds have recently bought and sold shares of TSE. Point72 Middle East FZE bought a new position in shares of Trinseo in the fourth quarter worth $32,000. Quarry LP bought a new position in shares of Trinseo in the first quarter worth $34,000. Lazard Asset Management LLC bought a new position in shares of Trinseo in the third quarter worth $48,000. Tower Research Capital LLC TRC boosted its stake in Trinseo by 227.9% during the first quarter. Tower Research Capital LLC TRC now owns 3,646 shares of the basic materials company’s stock valued at $76,000 after buying an additional 2,534 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Trinseo during the second quarter valued at $85,000. 92.64% of the stock is owned by institutional investors.

About Trinseo

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. The company operates in six segments: Engineered Materials, Latex Binders, Base Plastics, Polystyrene, Feedstocks, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction application; and produces activated methyl methacrylates.