MQS Management LLC Takes Position in Braskem S.A. (NYSE:BAK)

MQS Management LLC purchased a new stake in shares of Braskem S.A. (NYSE:BAK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,439 shares of the company’s stock, valued at approximately $77,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. boosted its position in shares of Braskem by 60.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 41,200 shares of the company’s stock valued at $266,000 after acquiring an additional 15,600 shares during the last quarter. MBB Public Markets I LLC lifted its position in Braskem by 69.5% in the second quarter. MBB Public Markets I LLC now owns 1,597,293 shares of the company’s stock valued at $10,303,000 after buying an additional 654,806 shares during the last quarter. Marshall Wace LLP lifted its position in Braskem by 872.0% in the second quarter. Marshall Wace LLP now owns 268,352 shares of the company’s stock valued at $1,731,000 after buying an additional 240,744 shares during the last quarter. American Century Companies Inc. lifted its position in Braskem by 1.6% in the second quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock valued at $722,000 after buying an additional 1,807 shares during the last quarter. Finally, Boston Partners acquired a new position in Braskem in the first quarter valued at about $627,000.

Braskem Price Performance

Shares of NYSE:BAK opened at $5.19 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.84 and a debt-to-equity ratio of 23.25. The firm’s 50-day moving average is $6.55 and its two-hundred day moving average is $6.73. Braskem S.A. has a 1 year low of $5.11 and a 1 year high of $10.98.

Wall Street Analyst Weigh In

BAK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Braskem from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. UBS Group raised shares of Braskem from a “neutral” rating to a “buy” rating and upped their target price for the company from $7.70 to $10.00 in a research report on Wednesday, September 18th. Finally, Citigroup raised shares of Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 20th.

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.