Cerity Partners LLC Makes New Investment in Braskem S.A. (NYSE:BAK)

Cerity Partners LLC bought a new position in Braskem S.A. (NYSE:BAKGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,185 shares of the company’s stock, valued at approximately $160,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC grew its position in Braskem by 10.8% in the 1st quarter. Acadian Asset Management LLC now owns 554,666 shares of the company’s stock worth $10,336,000 after purchasing an additional 54,015 shares during the last quarter. Renaissance Technologies LLC grew its position in Braskem by 160.6% in the 1st quarter. Renaissance Technologies LLC now owns 324,500 shares of the company’s stock worth $6,049,000 after purchasing an additional 200,000 shares during the last quarter. State Street Corp lifted its stake in shares of Braskem by 19.8% in the 1st quarter. State Street Corp now owns 251,227 shares of the company’s stock worth $4,683,000 after acquiring an additional 41,461 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Braskem by 16.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 185,500 shares of the company’s stock worth $3,458,000 after acquiring an additional 25,800 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Braskem in the 1st quarter worth approximately $2,268,000. Institutional investors own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America lowered shares of Braskem from a “buy” rating to a “neutral” rating in a research note on Monday, October 24th. Scotiabank raised shares of Braskem from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, November 11th. Howard Weil lowered shares of Braskem from a “sector perform” rating to a “sector underperform” rating in a research note on Monday, August 15th. Citigroup lowered shares of Braskem from a “buy” rating to a “neutral” rating in a research note on Monday, October 24th. Finally, Bradesco Corretora lowered shares of Braskem from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.67.

Braskem Stock Down 1.7 %

BAK stock opened at $10.91 on Wednesday. Braskem S.A. has a 12 month low of $9.42 and a 12 month high of $24.41. The firm has a market cap of $4.93 billion, a PE ratio of 12.69, a P/E/G ratio of 0.93 and a beta of 1.76. The firm has a 50 day simple moving average of $11.73 and a 200 day simple moving average of $13.56. The company has a debt-to-equity ratio of 5.91, a current ratio of 1.55 and a quick ratio of 0.89.

About Braskem

(Get Rating)

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 chemicals, including ethylene, polymer and chemical grade propylene, butadiene, 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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Institutional Ownership by Quarter for Braskem (NYSE:BAK)

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