Trinseo PLC (TSE) to Issue Quarterly Dividend of $0.01 on July 24th

Trinseo PLC (NYSE:TSE) declared a quarterly dividend on Thursday, June 26th, RTT News reports. Shareholders of record on Thursday, July 10th will be paid a dividend of 0.01 per share by the basic materials company on Thursday, July 24th. This represents a $0.04 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, July 10th.

Trinseo has a dividend payout ratio of -1.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Trinseo to earn ($2.12) 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 -1.9%.

Trinseo Stock Up 1.0%

NYSE:TSE opened at $3.43 on Friday. The firm has a 50 day moving average of $3.28 and a 200 day moving average of $4.06. The stock has a market capitalization of $122.10 million, a price-to-earnings ratio of -0.34 and a beta of 1.44. Trinseo has a 52 week low of $1.94 and a 52 week high of $7.05.

Trinseo (NYSE:TSE) last posted its earnings results on Wednesday, May 7th. The basic materials company reported ($1.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.03. The business had revenue of $784.80 million for the quarter, compared to analyst estimates of $980.01 million. As a group, analysts expect that Trinseo will post -3.88 EPS for the current year.

Hedge Funds Weigh In On Trinseo

A hedge fund recently raised its stake in Trinseo stock. Goldman Sachs Group Inc. increased its stake in shares of Trinseo PLC (NYSE:TSE) by 43.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 343,604 shares of the basic materials company’s stock after buying an additional 103,294 shares during the quarter. Goldman Sachs Group Inc. owned about 0.96% of Trinseo worth $1,264,000 at the end of the most recent reporting period. 82.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Trinseo from a “hold” rating to a “sell” rating in a report on Monday, May 12th.

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.