First Trust Direct Indexing L.P. Sells 1,762 Shares of Braskem S.A. (NYSE:BAK)

First Trust Direct Indexing L.P. lessened its stake in shares of Braskem S.A. (NYSE:BAK) by 14.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,174 shares of the company’s stock after selling 1,762 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Braskem were worth $90,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Global Management LLC purchased a new stake in shares of Braskem during the 3rd quarter worth $82,000. Trexquant Investment LP raised its holdings in Braskem by 12.5% in the third quarter. Trexquant Investment LP now owns 47,753 shares of the company’s stock worth $392,000 after purchasing an additional 5,294 shares in the last quarter. Centric Wealth Management bought a new stake in shares of Braskem in the 3rd quarter valued at about $1,321,000. Finally, Optiver Holding B.V. grew its position in shares of Braskem by 16.8% in the 3rd quarter. Optiver Holding B.V. now owns 417,432 shares of the company’s stock worth $3,427,000 after buying an additional 59,916 shares during the last quarter.

Braskem Stock Performance

NYSE BAK opened at $7.75 on Thursday. Braskem S.A. has a 52 week low of $6.30 and a 52 week high of $12.67. The company has a current ratio of 1.53, a quick ratio of 1.02 and a debt-to-equity ratio of 16.23. The company has a 50 day moving average price of $9.14 and a 200 day moving average price of $8.19.

Braskem (NYSE:BAK) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.25). Braskem had a negative net margin of 6.61% and a negative return on equity of 87.01%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Equities research analysts predict that Braskem S.A. will post -1.71 earnings per share for the current fiscal year.

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.