Daiwa Securities Group Inc. Has $682,000 Position in Braskem S.A. (BAK)

Daiwa Securities Group Inc. reduced its holdings in Braskem S.A. (NYSE:BAK) by 51.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,500 shares of the energy company’s stock after selling 26,700 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Braskem were worth $682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BAK. UBS Group AG increased its position in Braskem by 5.2% in the 1st quarter. UBS Group AG now owns 6,010 shares of the energy company’s stock valued at $122,000 after acquiring an additional 297 shares during the period. Citigroup Inc. increased its position in Braskem by 168.5% in the 2nd quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock valued at $170,000 after acquiring an additional 5,157 shares during the period. Tower Research Capital LLC TRC increased its position in Braskem by 10,474.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,574 shares of the energy company’s stock valued at $219,000 after acquiring an additional 10,474 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Braskem in the 2nd quarter valued at approximately $246,000. Finally, First Trust Advisors LP bought a new position in Braskem during the 3rd quarter valued at $293,000. Hedge funds and other institutional investors own 0.67% of the company’s stock.

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Braskem S.A. (NYSE:BAK) opened at $29.57 on Tuesday. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.86 and a quick ratio of 0.58. Braskem S.A. has a one year low of $15.26 and a one year high of $33.73.

A number of equities analysts have issued reports on the company. Zacks Investment Research raised Braskem from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a research note on Wednesday, October 18th. BidaskClub lowered Braskem from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Morgan Stanley raised Braskem from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 17th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $28.00.

About Braskem

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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Institutional Ownership by Quarter for Braskem (NYSE:BAK)

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