Braskem (BAK) Holdings Cut by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in shares of Braskem (NYSE:BAK) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,448 shares of the energy company’s stock after selling 1,856 shares during the period. Wells Fargo & Company MN’s holdings in Braskem were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Braskem during the 3rd quarter worth about $133,000. Cubist Systematic Strategies LLC lifted its holdings in Braskem by 83.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 21,854 shares of the energy company’s stock worth $584,000 after buying an additional 9,964 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Braskem by 51.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 38,700 shares of the energy company’s stock worth $1,016,000 after buying an additional 13,200 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Braskem by 41.9% during the 4th quarter. Acadian Asset Management LLC now owns 57,806 shares of the energy company’s stock worth $1,518,000 after buying an additional 17,058 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Braskem by 136.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 79,949 shares of the energy company’s stock worth $2,138,000 after buying an additional 46,149 shares during the last quarter. 0.72% of the stock is owned by institutional investors.

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BAK opened at $27.98 on Wednesday. The company has a debt-to-equity ratio of 4.26, a quick ratio of 0.58 and a current ratio of 0.94. Braskem has a one year low of $17.44 and a one year high of $33.73. The stock has a market cap of $11,026.08, a PE ratio of 7.13 and a beta of 1.22.



BAK has been the subject of a number of recent analyst reports. Zacks Investment Research raised Braskem from a “sell” rating to a “hold” rating in a report on Friday, April 6th. UBS raised Braskem from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $34.00.

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Braskem Company Profile

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. Its Basic Petrochemicals segment offers olefins, such as ethylene, polymer and chemical grade propylene, butadiene, and butene-1; BTX products comprising benzene, para-xylene, and toluene; fuels, including automotive gasoline, liquefied petroleum gas, ethyl tertiary butyl ether, and methyl tertiary butyl ether; intermediates, such as cumene; and aliphatics, aromatics, and hydrogenates solvents, as well as specialties, such as 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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