Advisors Asset Management Inc. bought a new position in Braskem SA (NYSE:BAK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 38,199 shares of the company’s stock, valued at approximately $453,000.
A number of other large investors have also recently added to or reduced their stakes in BAK. Renaissance Technologies LLC boosted its stake in Braskem SA by 43.3% in the first quarter. Renaissance Technologies LLC now owns 1,695,800 shares of the company’s stock worth $21,893,000 after buying an additional 512,600 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Braskem SA during the second quarter worth approximately $3,578,000. Bogle Investment Management L P DE boosted its stake in Braskem SA by 92.7% in the first quarter. Bogle Investment Management L P DE now owns 297,100 shares of the company’s stock worth $3,835,000 after buying an additional 142,929 shares during the last quarter. Hussman Strategic Advisors Inc. boosted its stake in Braskem SA by 36.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 408,000 shares of the company’s stock worth $4,835,000 after buying an additional 108,000 shares during the last quarter. Finally, Oxford Asset Management boosted its stake in Braskem SA by 44.3% in the second quarter. Oxford Asset Management now owns 306,217 shares of the company’s stock worth $3,629,000 after buying an additional 93,947 shares during the last quarter. Institutional investors own 1.15% of the company’s stock.
Braskem SA (NYSE:BAK) traded up 1.66% during midday trading on Thursday, hitting $15.96. 367,415 shares of the stock traded hands. The firm has a market cap of $6.35 billion, a PE ratio of 6.95 and a beta of 1.96. Braskem SA has a 12 month low of $8.40 and a 12 month high of $16.25. The company’s 50 day moving average price is $14.05 and its 200 day moving average price is $12.83.
Separately, Zacks Investment Research cut shares of Braskem SA from a “buy” rating to a “strong sell” rating in a research note on Monday, July 25th.
Braskem SA Company Profile
Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.
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