Marshall Wace LLP raised its position in shares of Braskem S.A. (NYSE:BAK – Free Report) by 872.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 268,352 shares of the company’s stock after acquiring an additional 240,744 shares during the quarter. Marshall Wace LLP owned about 0.06% of Braskem worth $1,731,000 as of its most recent SEC filing.
Separately, Boston Partners bought a new stake in shares of Braskem during the 1st quarter valued at about $627,000.
Braskem Stock Up 1.4 %
BAK stock opened at $7.38 on Friday. The stock’s 50 day simple moving average is $6.55 and its 200 day simple moving average is $7.43. The company has a market cap of $3.33 billion, a P/E ratio of -2.28 and a beta of 2.02. The company has a debt-to-equity ratio of 23.25, a quick ratio of 0.84 and a current ratio of 1.31. Braskem S.A. has a fifty-two week low of $5.28 and a fifty-two week high of $10.98.
Analyst Ratings Changes
BAK has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on Braskem from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. Citigroup upgraded shares of Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and raised their price target for the stock from $7.70 to $10.00 in a report on Wednesday, September 18th.
Get Our Latest Stock Report on Braskem
Braskem Profile
Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.
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