Trinseo PLC (NYSE:TSE) Sees Significant Decline in Short Interest

Trinseo PLC (NYSE:TSE) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 887,300 shares, a drop of 34.8% from the February 28th total of 1,360,000 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily trading volume, of 338,900 shares, the days-to-cover ratio is currently 2.6 days.

Trinseo Stock Down 5.7 %

Shares of Trinseo stock traded down $0.22 during trading on Friday, reaching $3.67. The company’s stock had a trading volume of 285,532 shares, compared to its average volume of 453,217. The business’s 50-day moving average price is $4.54 and its 200-day moving average price is $4.74. Trinseo has a 52 week low of $1.94 and a 52 week high of $7.05. The firm has a market cap of $130.14 million, a PE ratio of -0.37 and a beta of 1.44.

Trinseo (NYSE:TSE) last announced its earnings results on Wednesday, February 12th. The basic materials company reported ($2.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.30) by ($0.37). Equities analysts predict that Trinseo will post -3.88 earnings per share for the current year.

Trinseo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $0.04 dividend on an annualized basis and a yield of 1.09%. Trinseo’s dividend payout ratio (DPR) is presently -0.41%.

Institutional Trading of Trinseo

A number of institutional investors have recently modified their holdings of the stock. Covestor Ltd acquired a new position in Trinseo in the fourth quarter valued at about $36,000. Rhumbline Advisers increased its holdings in Trinseo by 103.2% in the 4th quarter. Rhumbline Advisers now owns 7,879 shares of the basic materials company’s stock valued at $40,000 after buying an additional 4,002 shares during the period. SG Americas Securities LLC acquired a new position in shares of Trinseo in the 4th quarter valued at approximately $51,000. State of Wyoming bought a new stake in shares of Trinseo during the 4th quarter worth approximately $53,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Trinseo during the 4th quarter worth approximately $74,000. 82.69% of the stock is currently 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. 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.