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

State Street Corp boosted its holdings in Braskem S.A. (NYSE:BAK) by 2.3% in the third quarter, Holdings Channel reports. The institutional investor owned 228,110 shares of the company’s stock after buying 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.

Other large investors have also added to or reduced their stakes in the company. MBB Public Markets I LLC increased its position in Braskem by 69.5% in the 2nd quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock valued at $10,303,000 after acquiring an additional 654,806 shares during the period. Walleye Capital LLC acquired a new position in shares of Braskem during the third quarter worth $2,341,000. Marshall Wace LLP grew its stake in shares of Braskem by 872.0% in the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock worth $1,731,000 after purchasing an additional 240,744 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Braskem by 329.1% in the third quarter. Point72 Asset Management L.P. now owns 176,800 shares of the company’s stock valued at $1,298,000 after purchasing an additional 135,600 shares during the period. Finally, American Century Companies Inc. raised its position in 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 purchasing an additional 1,807 shares during the last quarter.

Analysts Set New Price Targets

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

Braskem Price Performance

Shares of NYSE BAK opened at $3.86 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.28 and a debt-to-equity ratio of 23.25. The company has a market capitalization of $1.54 billion, a PE ratio of -1.09 and a beta of 1.98. The firm has a fifty day simple moving average of $5.01 and a 200 day simple moving average of $6.05. Braskem S.A. has a twelve month low of $3.70 and a twelve month high of $10.98.

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.