Parametric Portfolio Associates LLC Acquires 949 Shares of Braskem S.A. (BAK)
Parametric Portfolio Associates LLC grew its holdings in Braskem S.A. (NYSE:BAK) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,539 shares of the energy company’s stock after acquiring an additional 949 shares during the period. Parametric Portfolio Associates LLC’s holdings in Braskem were worth $2,560,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BAK. Goldman Sachs Group Inc. raised its position in Braskem by 173.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,003,223 shares of the energy company’s stock worth $20,415,000 after acquiring an additional 636,561 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Braskem by 75.0% in the second quarter. JPMorgan Chase & Co. now owns 261,291 shares of the energy company’s stock worth $5,414,000 after purchasing an additional 112,024 shares in the last quarter. Credit Suisse AG increased its stake in shares of Braskem by 16.0% in the first quarter. Credit Suisse AG now owns 417,970 shares of the energy company’s stock worth $8,506,000 after purchasing an additional 57,767 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Braskem by 6.1% in the second quarter. Vanguard Group Inc. now owns 984,260 shares of the energy company’s stock worth $20,394,000 after purchasing an additional 56,342 shares in the last quarter. Finally, Dorsey Wright & Associates increased its stake in shares of Braskem by 50.9% in the second quarter. Dorsey Wright & Associates now owns 142,170 shares of the energy company’s stock worth $1,304,000 after purchasing an additional 47,978 shares in the last quarter. Institutional investors and hedge funds own 0.66% of the company’s stock.
Shares of Braskem S.A. (NYSE BAK) opened at $30.37 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.82. Braskem S.A. has a 52 week low of $15.26 and a 52 week high of $33.73.
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BAK has been the subject of a number of analyst reports. Morgan Stanley raised shares of Braskem from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 17th. BidaskClub cut shares of Braskem from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research cut shares of Braskem from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $28.00.
Braskem Company Profile
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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