Trinseo PLC Declares Quarterly Dividend of $0.01 (NYSE:TSE)

Trinseo PLC (NYSE:TSE) declared a quarterly dividend on Thursday, September 26th, Wall Street Journal reports. Shareholders of record on Thursday, October 10th will be given a dividend of 0.01 per share by the basic materials company on Thursday, October 24th. This represents a $0.04 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, October 10th.

Trinseo has decreased its dividend payment by an average of 33.1% annually over the last three years. Trinseo has a dividend payout ratio of -1.4% 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 ($3.44) 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 -1.2%.

Trinseo Trading Down 5.6 %

Shares of TSE stock opened at $6.41 on Tuesday. The company’s fifty day moving average price is $3.90 and its 200-day moving average price is $3.33. The stock has a market cap of $226.23 million, a PE ratio of -0.31 and a beta of 1.63. Trinseo has a 12 month low of $1.93 and a 12 month high of $8.83.

Trinseo (NYSE:TSE) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($1.46) 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 analyst estimates of $958.16 million. During the same quarter in the prior year, the firm earned ($1.92) earnings per share. On average, sell-side analysts forecast that Trinseo will post -6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Trinseo

In other Trinseo news, Director Jeffrey J. Cote acquired 100,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $2.81 per share, with a total value of $281,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at $281,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Jeffrey J. Cote bought 100,000 shares of the stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $2.81 per share, for a total transaction of $281,000.00. Following the purchase, the director now owns 100,000 shares of the company’s stock, valued at approximately $281,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Angelo N. Chaclas bought 75,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $2.57 per share, for a total transaction of $192,750.00. Following the acquisition, the senior vice president now directly owns 207,007 shares of the company’s stock, valued at $532,007.99. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 265,600 shares of company stock worth $748,084. 2.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.