OxFORD Asset Management LLP Has $2.87 Million Position in Braskem S.A. (BAK)
OxFORD Asset Management LLP reduced its holdings in Braskem S.A. (NYSE:BAK) by 26.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,819 shares of the energy company’s stock after selling 39,233 shares during the quarter. OxFORD Asset Management LLP’s holdings in Braskem were worth $2,867,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in Braskem during the 3rd quarter valued at $133,000. Citigroup Inc. boosted its stake in Braskem by 168.5% during the 2nd quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock valued at $170,000 after purchasing an additional 5,157 shares in the last quarter. Advisor Group Inc. boosted its stake in Braskem by 50.6% during the 3rd quarter. Advisor Group Inc. now owns 6,985 shares of the energy company’s stock valued at $187,000 after purchasing an additional 2,346 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Braskem by 10,474.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,574 shares of the energy company’s stock valued at $219,000 after purchasing an additional 10,474 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Braskem during the 2nd quarter valued at $246,000. Hedge funds and other institutional investors own 0.63% of the company’s stock.
Shares of Braskem S.A. (BAK) opened at $26.25 on Monday. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.58 and a current ratio of 0.86. Braskem S.A. has a 1-year low of $17.44 and a 1-year high of $33.73.
The company also recently disclosed a special dividend, which will be paid on Friday, December 22nd. Investors of record on Monday, December 11th will be issued a dividend of $0.7748 per share. The ex-dividend date is Friday, December 8th.
Several equities research analysts have recently weighed in on BAK shares. Zacks Investment Research lowered Braskem from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. UBS lowered Braskem from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 21st. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Braskem currently has an average rating of “Buy” and an average price target of $34.00.
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Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.
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