550,000 Shares in Braskem S.A. $BAK Acquired by Brooklands Fund Management Ltd

Brooklands Fund Management Ltd acquired a new stake in shares of Braskem S.A. (NYSE:BAK) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 550,000 shares of the company’s stock, valued at approximately $2,013,000. Braskem makes up about 2.3% of Brooklands Fund Management Ltd’s portfolio, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. UBS Group AG lifted its stake in Braskem by 2.6% in the third quarter. UBS Group AG now owns 783,445 shares of the company’s stock valued at $1,896,000 after acquiring an additional 19,956 shares during the last quarter. State Street Corp increased its stake in shares of Braskem by 7.2% during the 4th quarter. State Street Corp now owns 311,507 shares of the company’s stock worth $919,000 after purchasing an additional 20,805 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Braskem by 619.5% during the 4th quarter. Renaissance Technologies LLC now owns 265,488 shares of the company’s stock valued at $783,000 after purchasing an additional 228,588 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Braskem by 607.1% during the 2nd quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock valued at $865,000 after purchasing an additional 226,467 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Braskem by 193.6% in the 4th quarter. Jane Street Group LLC now owns 220,898 shares of the company’s stock valued at $652,000 after purchasing an additional 145,655 shares during the last quarter.

Braskem Trading Up 1.6%

Shares of Braskem stock opened at $2.47 on Friday. The firm has a fifty day simple moving average of $3.34 and a 200-day simple moving average of $3.63. The stock has a market capitalization of $984.14 million, a price-to-earnings ratio of -0.59, a PEG ratio of 0.14 and a beta of 1.61. Braskem S.A. has a 1-year low of $2.25 and a 1-year high of $5.39.

Braskem (NYSE:BAK) last posted its earnings results on Thursday, May 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.48. The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.39 billion. Braskem had a negative net margin of 13.72% and a negative return on equity of 23.17%. As a group, research analysts predict that Braskem S.A. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BAK. Bradesco Corretora cut shares of Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price objective for the company. in a report on Tuesday, April 21st. Bank of America lowered Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 target price on the stock. in a report on Thursday, March 26th. Citigroup cut Braskem from a “neutral” rating to a “sell” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. downgraded Braskem from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 30th. Finally, Zacks Research lowered Braskem from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Three analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and a consensus target price of $3.40.

Braskem Profile

Braskem (NYSE:BAK) is a leading integrated petrochemical company based in São Paulo, Brazil, and holds the distinction of being the largest thermoplastic resins producer in Latin America. The company operates across the entire value chain, from feedstock sourcing and polymer production to distribution and recycling. Braskem’s comprehensive approach to petrochemical manufacturing enables it to serve a diverse set of end markets with a broad portfolio of products.

Braskem’s core product lines include polypropylene, polyethylene and polyvinyl chloride (PVC), which are used in industries such as packaging, automotive, construction and electrical & electronics.