Signaturefd LLC Invests $53,000 in Braskem S.A. (NYSE:BAK)

Signaturefd LLC bought a new stake in shares of Braskem S.A. (NYSE:BAK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,687 shares of the company’s stock, valued at approximately $53,000.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Braskem by 876.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock valued at $40,000 after buying an additional 4,871 shares during the last quarter. R Squared Ltd acquired a new stake in Braskem during the fourth quarter worth about $44,000. Blue Trust Inc. raised its position in Braskem by 2,510.3% during the fourth quarter. Blue Trust Inc. now owns 13,130 shares of the company’s stock valued at $51,000 after acquiring an additional 12,627 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Braskem by 19.4% in the fourth quarter. HighTower Advisors LLC now owns 19,213 shares of the company’s stock valued at $74,000 after acquiring an additional 3,126 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Braskem in the 3rd quarter worth approximately $88,000.

Analysts Set New Price Targets

Separately, Scotiabank cut shares of Braskem from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, March 3rd.

Braskem Stock Down 3.3 %

Shares of Braskem stock opened at $3.63 on Tuesday. The firm has a market cap of $1.44 billion, a PE ratio of -1.02 and a beta of 2.06. The business has a 50-day moving average price of $4.23 and a 200 day moving average price of $5.12. Braskem S.A. has a twelve month low of $3.41 and a twelve month high of $10.91.

Braskem (NYSE:BAK) last announced its earnings results on Thursday, February 27th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.01). Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.52 billion. On average, sell-side analysts expect that Braskem S.A. will post -0.77 EPS for the current year.

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.