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

Trinseo PLC (NYSE:TSE) declared a quarterly dividend on Thursday, September 26th, Wall Street Journal reports. Investors of record on Thursday, October 10th will be paid a dividend of 0.01 per share by the basic materials company on Thursday, October 24th. This represents a $0.04 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, October 10th.

Trinseo has decreased its dividend payment by an average of 33.1% per year over the last three years. Trinseo has a dividend payout ratio of -1.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 4.0 %

Shares of NYSE TSE opened at $5.49 on Friday. The stock has a market cap of $194.13 million, a price-to-earnings ratio of -0.27 and a beta of 1.63. Trinseo has a 12 month low of $1.93 and a 12 month high of $8.83. The company has a 50 day simple moving average of $3.51 and a two-hundred day simple moving average of $3.29.

Trinseo (NYSE:TSE) last posted its quarterly earnings results 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 business had revenue of $920.00 million during the quarter, compared to analysts’ expectations of $958.16 million. Trinseo had a negative net margin of 12.62% and a negative return on equity of 905.55%. During the same period in the previous year, the company posted ($1.92) earnings per share. Analysts forecast that Trinseo will post -6.73 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Trinseo

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

Trinseo Company Profile

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.