Braskem S.A. (BAK) Holdings Boosted by State Street Corp

State Street Corp raised its position in Braskem S.A. (NYSE:BAK) by 24.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 235,528 shares of the energy company’s stock after buying an additional 45,876 shares during the quarter. State Street Corp’s holdings in Braskem were worth $4,879,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in shares of Braskem by 5.2% in the 1st quarter. UBS Group AG now owns 6,010 shares of the energy company’s stock valued at $122,000 after purchasing an additional 297 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Braskem by 168.5% in the 2nd quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock valued at $170,000 after purchasing an additional 5,157 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Braskem by 29.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 52,200 shares of the energy company’s stock valued at $1,082,000 after purchasing an additional 11,900 shares in the last quarter. Dorsey Wright & Associates boosted its stake in shares of Braskem by 50.9% in the 2nd quarter. Dorsey Wright & Associates now owns 142,170 shares of the energy company’s stock valued at $1,304,000 after purchasing an additional 47,978 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Braskem by 0.3% in the 2nd quarter. Wells Fargo & Company MN now owns 79,124 shares of the energy company’s stock valued at $1,639,000 after purchasing an additional 274 shares in the last quarter. 0.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Braskem S.A. (NYSE BAK) opened at $27.91 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.58 and a debt-to-equity ratio of 2.88. Braskem S.A. has a 1 year low of $17.44 and a 1 year high of $33.73. The company has a market cap of $11,010.13, a P/E ratio of 10.83 and a beta of 1.05.

The firm also recently announced a special dividend, which will be paid on Friday, December 22nd. Investors of record on Monday, December 11th will be given a dividend of $0.7748 per share. The ex-dividend date of this dividend is Friday, December 8th.

A number of research firms have recently weighed in on BAK. Zacks Investment Research upgraded shares of Braskem from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research note on Wednesday, October 18th. UBS downgraded shares of Braskem from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 21st. Finally, BidaskClub downgraded shares of Braskem from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $34.00.

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Braskem 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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Institutional Ownership by Quarter for Braskem (NYSE:BAK)

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