Renaissance Technologies LLC Grows Stock Position in Braskem S.A. (NYSE:BAK)

Renaissance Technologies LLC increased its position in Braskem S.A. (NYSE:BAK - Free Report) by 126.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 329,910 shares of the company's stock after acquiring an additional 184,010 shares during the period. Renaissance Technologies LLC owned about 0.08% of Braskem worth $1,273,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BAK. JPMorgan Chase & Co. raised its holdings in 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 purchasing an additional 4,871 shares during the period. R Squared Ltd bought a new position in shares of Braskem during the 4th quarter valued at approximately $44,000. Virtu Financial LLC purchased a new stake in Braskem in the 3rd quarter worth approximately $88,000. Blue Trust Inc. lifted its holdings 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 purchasing an additional 12,627 shares in the last quarter. Finally, Signaturefd LLC bought a new position in shares of Braskem in the fourth quarter worth approximately $53,000.

Braskem Stock Down 1.5 %

BAK stock traded down $0.06 during mid-day trading on Monday, hitting $3.63. The company had a trading volume of 39,351 shares, compared to its average volume of 849,590. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -1.02 and a beta of 1.83. The company has a 50-day moving average price of $3.65 and a 200 day moving average price of $4.40. Braskem S.A. has a 12-month low of $2.85 and a 12-month high of $8.09.

Braskem (NYSE:BAK - Get Free Report) last released its quarterly 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). The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.52 billion. Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. As a group, analysts expect that Braskem S.A. will post -0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Braskem 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.