Dimensional Fund Advisors LP Has $1.65 Million Stake in Braskem S.A. (NYSE:BAK)

Dimensional Fund Advisors LP decreased its stake in Braskem S.A. (NYSE:BAK) by 20.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,879 shares of the company’s stock after selling 65,513 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.06% of Braskem worth $1,647,000 at the end of the most recent quarter.

Separately, Boston Partners bought a new position in shares of Braskem in the 1st quarter valued at about $627,000.

Braskem Trading Down 0.7 %

BAK opened at $6.70 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 23.25. Braskem S.A. has a twelve month low of $5.28 and a twelve month high of $10.98. The company has a 50-day simple moving average of $6.63 and a 200 day simple moving average of $7.32.

Braskem (NYSE:BAK) last released its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.30. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.56 billion. Braskem had a negative net margin of 12.98% and a negative return on equity of 276.59%. On average, research analysts predict that Braskem S.A. will post -1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on BAK shares. Citigroup raised shares of Braskem from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lowered their price objective on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Finally, UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $7.70 to $10.00 in a report on Wednesday, September 18th.

Braskem Company 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.