Bank of America Corp DE Has $520,000 Stock Position in Braskem S.A. (NYSE:BAK)

Bank of America Corp DE grew its position in shares of Braskem S.A. (NYSE:BAK - Free Report) by 431.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,824 shares of the company's stock after purchasing an additional 109,433 shares during the period. Bank of America Corp DE's holdings in Braskem were worth $520,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Braskem by 47.2% during the fourth quarter. Jane Street Group LLC now owns 133,564 shares of the company's stock worth $516,000 after acquiring an additional 42,828 shares during the period. Dark Forest Capital Management LP purchased a new stake in Braskem during the 4th quarter worth about $71,000. Dimensional Fund Advisors LP boosted its holdings in Braskem by 50.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 221,004 shares of the company's stock valued at $852,000 after purchasing an additional 73,801 shares in the last quarter. Covalis Capital LLP raised its stake in Braskem by 27.1% during the 4th quarter. Covalis Capital LLP now owns 1,173,852 shares of the company's stock worth $4,531,000 after acquiring an additional 250,215 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Braskem by 14.3% in the 4th quarter. Marshall Wace LLP now owns 787,348 shares of the company's stock valued at $3,039,000 after purchasing an additional 98,406 shares during the period.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered shares of Braskem from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, March 3rd.

Braskem Price Performance

NYSE BAK traded down $0.05 on Thursday, reaching $3.70. The company had a trading volume of 118,188 shares, compared to its average volume of 812,507. The firm has a 50-day moving average of $3.64 and a 200-day moving average of $4.03. Braskem S.A. has a 1 year low of $2.85 and a 1 year high of $7.71. The firm has a market capitalization of $1.47 billion, a PE ratio of -1.04 and a beta of 1.73.

Braskem (NYSE:BAK - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.03 by $0.27. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $22.86 billion. Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%. As a group, sell-side analysts expect that Braskem S.A. will post -0.77 EPS for the current fiscal year.

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.