Point72 Asset Management L.P. Has $1.30 Million Holdings in Braskem S.A. (NYSE:BAK)

Point72 Asset Management L.P. grew its holdings in Braskem S.A. (NYSE:BAK - Free Report) by 329.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,800 shares of the company's stock after acquiring an additional 135,600 shares during the period. Point72 Asset Management L.P.'s holdings in Braskem were worth $1,298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of BAK. MBB Public Markets I LLC raised its holdings in shares of 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. Walleye Capital LLC acquired a new stake in shares of Braskem in the third quarter valued at approximately $2,341,000. Marshall Wace LLP grew its stake in Braskem by 872.0% in the 2nd quarter. Marshall Wace LLP now owns 268,352 shares of the company's stock worth $1,731,000 after acquiring an additional 240,744 shares during the period. American Century Companies Inc. grew its stake 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 valued at $722,000 after buying an additional 1,807 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in shares of Braskem by 174.9% during the 3rd quarter. Quantbot Technologies LP now owns 71,952 shares of the company's stock valued at $528,000 after acquiring an additional 45,782 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Braskem Price Performance

Shares of NYSE:BAK traded up $0.11 during midday trading on Wednesday, reaching $5.15. 671,250 shares of the company's stock were exchanged, compared to its average volume of 819,109. The firm has a market capitalization of $2.33 billion, a PE ratio of -1.42 and a beta of 1.98. The company has a debt-to-equity ratio of 23.25, a quick ratio of 0.76 and a current ratio of 1.28. The company's 50 day simple moving average is $5.87 and its two-hundred day simple moving average is $6.37. Braskem S.A. has a 12 month low of $4.68 and a 12 month high of $10.98.

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.