Signaturefd LLC Buys Shares of 13,687 Braskem S.A. (NYSE:BAK)

Signaturefd LLC purchased a new position in Braskem S.A. (NYSE:BAK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,687 shares of the company’s stock, valued at approximately $53,000.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Braskem by 876.1% during the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock worth $40,000 after buying an additional 4,871 shares in the last quarter. R Squared Ltd purchased a new stake in Braskem during the 4th quarter valued at about $44,000. Blue Trust Inc. raised its holdings in Braskem by 2,510.3% in the 4th quarter. Blue Trust Inc. now owns 13,130 shares of the company’s stock valued at $51,000 after acquiring an additional 12,627 shares during the last quarter. HighTower Advisors LLC lifted its stake in Braskem by 19.4% in the 4th quarter. HighTower Advisors LLC now owns 19,213 shares of the company’s stock worth $74,000 after purchasing an additional 3,126 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Braskem during the 3rd quarter worth approximately $88,000.

Braskem Price Performance

Braskem stock opened at $3.63 on Tuesday. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -1.02 and a beta of 2.06. The firm has a 50 day simple moving average of $4.23 and a 200-day simple moving average of $5.12. Braskem S.A. has a 1-year low of $3.41 and a 1-year high of $10.91.

Braskem (NYSE:BAK) last posted its earnings results on Thursday, February 27th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Equities analysts expect that Braskem S.A. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Scotiabank downgraded Braskem from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, March 3rd.

About Braskem

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.