Braskem (NYSE:BAK – Get Free Report) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat reports.
Separately, JPMorgan Chase & Co. dropped their price target on shares of Braskem from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, May 24th.
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Braskem Price Performance
Hedge Funds Weigh In On Braskem
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jump Financial LLC raised its holdings in shares of Braskem by 4.3% during the 4th quarter. Jump Financial LLC now owns 67,392 shares of the company’s stock worth $594,000 after acquiring an additional 2,790 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Braskem by 197.1% during the fourth quarter. Trexquant Investment LP now owns 141,852 shares of the company’s stock worth $1,251,000 after purchasing an additional 94,099 shares during the last quarter. SPX Gestao de Recursos Ltda grew its stake in Braskem by 266.9% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 239,536 shares of the company’s stock worth $2,113,000 after acquiring an additional 174,250 shares in the last quarter. Boston Partners bought a new stake in shares of Braskem during the first quarter valued at approximately $627,000. Finally, American Century Companies Inc. grew its position in shares of Braskem by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock worth $722,000 after buying an additional 1,807 shares in the last quarter.
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.
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