Fox Run Management L.L.C. Acquires 17,971 Shares of Braskem S.A. (NYSE:BAK)

Fox Run Management L.L.C. raised its holdings in Braskem S.A. (NYSE:BAK) by 103.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,366 shares of the company’s stock after purchasing an additional 17,971 shares during the quarter. Fox Run Management L.L.C.’s holdings in Braskem were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Braskem by 876.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company’s stock worth $40,000 after buying an additional 4,871 shares during the last quarter. R Squared Ltd purchased a new position in Braskem in the fourth quarter valued at about $44,000. Blue Trust Inc. grew its position in shares of Braskem by 2,510.3% during the 4th 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 during the period. Signaturefd LLC purchased a new stake in shares of Braskem during the 4th quarter worth approximately $53,000. Finally, HighTower Advisors LLC raised its holdings in shares of Braskem by 19.4% in the 4th quarter. HighTower Advisors LLC now owns 19,213 shares of the company’s stock worth $74,000 after purchasing an additional 3,126 shares during the period.

Braskem Stock Down 3.3 %

BAK opened at $3.95 on Friday. Braskem S.A. has a twelve month low of $3.41 and a twelve month high of $10.64. The firm has a 50-day moving average price of $4.22 and a 200-day moving average price of $5.06. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -1.11 and a beta of 2.06.

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

Wall Street Analyst Weigh In

Separately, Scotiabank lowered Braskem from a “sector outperform” rating to a “sector perform” rating in a report on Monday, March 3rd.

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.