Cornerstone Wealth Management LLC purchased a new stake in shares of Braskem SA (NYSE:BAK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,750 shares of the energy company’s stock, valued at approximately $1,000,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of Braskem by 140.5% during the second quarter. SG Americas Securities LLC now owns 8,511 shares of the energy company’s stock valued at $221,000 after acquiring an additional 4,972 shares during the period. Virtu Financial LLC acquired a new position in shares of Braskem during the second quarter valued at $269,000. Pinebridge Investments L.P. boosted its holdings in shares of Braskem by 26.1% during the second quarter. Pinebridge Investments L.P. now owns 12,764 shares of the energy company’s stock valued at $332,000 after acquiring an additional 2,644 shares during the period. Northern Trust Corp boosted its holdings in shares of Braskem by 18.9% during the first quarter. Northern Trust Corp now owns 15,941 shares of the energy company’s stock valued at $462,000 after acquiring an additional 2,539 shares during the period. Finally, PointState Capital LP acquired a new position in shares of Braskem during the second quarter valued at $1,981,000. 0.57% of the stock is owned by institutional investors.
Separately, HSBC downgraded shares of Braskem from a “buy” rating to a “hold” rating in a report on Friday, September 28th.
Braskem (NYSE:BAK) last posted its quarterly earnings data on Tuesday, August 7th. The energy company reported $0.38 earnings per share for the quarter. The business had revenue of $3.84 billion during the quarter. Braskem had a net margin of 4.98% and a return on equity of 44.61%. On average, analysts anticipate that Braskem SA will post 2.35 EPS for the current fiscal year.
Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. Its Basic Petrochemicals segment offers olefins, such as ethylene, polymer and chemical grade propylene, butadiene, and butene-1; BTX products comprising benzene, para-xylene, and toluene; fuels, including automotive gasoline, liquefied petroleum gas, ethyl tertiary butyl ether, and methyl tertiary butyl ether; intermediates, such as cumene; and aliphatics, aromatics, and hydrogenates solvents, as well as specialties, such as isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.
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