Renaissance Technologies LLC cut its holdings in shares of Braskem SA (NYSE:BAK) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,291,700 shares of the energy company’s stock after selling 84,600 shares during the quarter. Renaissance Technologies LLC owned about 1.08% of Braskem worth $123,901,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BAK. BlackRock Inc. lifted its position in Braskem by 236.8% during the third quarter. BlackRock Inc. now owns 407,021 shares of the energy company’s stock worth $11,752,000 after buying an additional 286,156 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Braskem by 104.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 509,942 shares of the energy company’s stock worth $14,722,000 after buying an additional 259,967 shares during the period. Point72 Asset Management L.P. purchased a new position in Braskem during the second quarter worth about $3,900,000. Scopus Asset Management L.P. purchased a new position in Braskem during the second quarter worth about $3,744,000. Finally, Third Point LLC purchased a new position in Braskem during the second quarter worth about $2,600,000. Hedge funds and other institutional investors own 0.51% of the company’s stock.
Several equities analysts recently weighed in on BAK shares. HSBC downgraded Braskem from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. ValuEngine upgraded Braskem from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st.
NYSE BAK opened at $25.35 on Friday. Braskem SA has a twelve month low of $21.32 and a twelve month high of $32.67. The stock has a market cap of $10.38 billion, a P/E ratio of 13.02 and a beta of 1.11. The company has a current ratio of 0.90, a quick ratio of 0.54 and a debt-to-equity ratio of 4.13.
Braskem (NYSE:BAK) last announced its quarterly earnings results on Monday, November 12th. The energy company reported $0.51 EPS for the quarter. The company had revenue of $3.71 billion during the quarter. Braskem had a return on equity of 45.12% and a net margin of 4.89%. On average, equities analysts anticipate that Braskem SA will post 2.35 EPS for the current year.
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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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