American Century Companies Inc. Trims Stake in Braskem S.A. (NYSE:BAK)

American Century Companies Inc. decreased its stake in shares of Braskem S.A. (NYSE:BAK) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,735 shares of the company’s stock after selling 9,632 shares during the period. American Century Companies Inc.’s holdings in Braskem were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BAK. Jane Street Group LLC raised its holdings in Braskem by 106.8% in the 3rd quarter. Jane Street Group LLC now owns 90,736 shares of the company’s stock valued at $666,000 after acquiring an additional 46,858 shares during the last quarter. Verition Fund Management LLC acquired a new position in Braskem in the third quarter valued at $123,000. Signaturefd LLC acquired a new position in Braskem in the fourth quarter valued at $53,000. Blue Trust Inc. boosted its position in shares of Braskem by 2,510.3% in the fourth quarter. Blue Trust Inc. now owns 13,130 shares of the company’s stock worth $51,000 after acquiring an additional 12,627 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Braskem in the third quarter valued at approximately $88,000.

Analysts Set New Price Targets

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

Braskem Stock Performance

NYSE BAK opened at $3.41 on Monday. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -0.96 and a beta of 1.80. Braskem S.A. has a one year low of $2.85 and a one year high of $9.21. The company’s 50 day moving average price is $3.89 and its 200 day moving average price is $4.75.

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

Braskem Company Profile

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.