Deltec Asset Management LLC bought a new stake in shares of Braskem SA (NYSE:BAK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 43,128 shares of the company’s stock, valued at approximately $511,000.
Several other large investors have also recently made changes to their positions in the stock. Dorsey Wright & Associates purchased a new stake in shares of Braskem SA during the second quarter valued at $287,000. Fox Run Management L.L.C. purchased a new stake in shares of Braskem SA during the second quarter valued at $422,000. Royal Bank of Canada purchased a new stake in shares of Braskem SA during the first quarter valued at $145,000. A.R.T. Advisors LLC increased its stake in shares of Braskem SA by 6.6% in the first quarter. A.R.T. Advisors LLC now owns 53,187 shares of the company’s stock valued at $686,000 after buying an additional 3,300 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Braskem SA by 0.8% in the first quarter. Envestnet Asset Management Inc. now owns 17,191 shares of the company’s stock valued at $222,000 after buying an additional 142 shares in the last quarter. 1.15% of the stock is currently owned by institutional investors and hedge funds.
Braskem SA (NYSE:BAK) traded up 1.93% on Wednesday, hitting $14.25. 448,222 shares of the stock were exchanged. The firm has a market cap of $5.67 billion, a PE ratio of 6.31 and a beta of 1.96. Braskem SA has a 52-week low of $7.57 and a 52-week high of $15.58. The stock’s 50 day moving average price is $13.80 and its 200 day moving average price is $12.79.
Several brokerages have recently weighed in on BAK. Zacks Investment Research raised shares of Braskem SA from a “strong sell” rating to a “hold” rating in a research note on Friday, September 9th. Bank of America Corp. raised shares of Braskem SA from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 24th.
About Braskem SA
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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