American Century Companies Inc. Raises Stock Position in Braskem S.A. $BAK

American Century Companies Inc. increased its stake in Braskem S.A. (NYSE:BAK) by 12.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,035 shares of the company’s stock after purchasing an additional 12,300 shares during the quarter. American Century Companies Inc.’s holdings in Braskem were worth $424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC purchased a new stake in Braskem in the first quarter worth approximately $58,000. R Squared Ltd boosted its holdings in Braskem by 55.2% in the first quarter. R Squared Ltd now owns 17,600 shares of the company’s stock worth $68,000 after purchasing an additional 6,260 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Braskem by 654.9% in the first quarter. GAMMA Investing LLC now owns 19,824 shares of the company’s stock worth $76,000 after purchasing an additional 17,198 shares during the last quarter. Virtu Financial LLC purchased a new stake in Braskem in the first quarter worth approximately $99,000. Finally, Squarepoint Ops LLC purchased a new stake in Braskem in the fourth quarter worth approximately $164,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BAK shares. Zacks Research upgraded shares of Braskem from a “hold” rating to a “strong-buy” rating in a report on Monday, September 1st. JPMorgan Chase & Co. decreased their price target on shares of Braskem from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Braskem Price Performance

Shares of BAK stock opened at $3.53 on Friday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -1.39 and a beta of 1.81. Braskem S.A. has a one year low of $2.80 and a one year high of $7.71. The company’s fifty day moving average price is $3.24 and its 200-day moving average price is $3.53.

Braskem (NYSE:BAK) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.56. The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $18.76 billion. Equities research analysts expect that Braskem S.A. will post -0.77 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.