State Street Corp Buys 5,124 Shares of Braskem S.A. (NYSE:BAK)

State Street Corp raised its stake in Braskem S.A. (NYSE:BAK) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,110 shares of the company’s stock after acquiring an additional 5,124 shares during the period. State Street Corp’s holdings in Braskem were worth $1,674,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. MBB Public Markets I LLC raised its stake in Braskem by 69.5% in the second quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock valued at $10,303,000 after purchasing an additional 654,806 shares in the last quarter. Walleye Capital LLC bought a new position in Braskem in the 3rd quarter valued at about $2,341,000. Marshall Wace LLP raised its position in shares of Braskem by 872.0% in the 2nd quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock valued at $1,731,000 after buying an additional 240,744 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Braskem by 329.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock worth $1,298,000 after acquiring an additional 135,600 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Braskem by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock worth $722,000 after acquiring an additional 1,807 shares in the last quarter.

Braskem Trading Up 1.6 %

BAK opened at $3.86 on Thursday. The company’s 50 day moving average is $5.01 and its 200-day moving average is $6.05. The company has a market cap of $1.54 billion, a P/E ratio of -1.09 and a beta of 1.98. Braskem S.A. has a 1-year low of $3.70 and a 1-year high of $10.98. The company has a current ratio of 1.28, a quick ratio of 0.76 and a debt-to-equity ratio of 23.25.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $7.70 to $10.00 in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lowered their price target on Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Tuesday, September 10th.

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.