Freestone Capital Holdings LLC lowered its holdings in shares of Braskem SA (NYSE:BAK) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 238,964 shares of the energy company’s stock after selling 2,145 shares during the period. Freestone Capital Holdings LLC owned approximately 0.06% of Braskem worth $6,899,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in BAK. FMR LLC grew its holdings in shares of Braskem by 0.9% during the 3rd quarter. FMR LLC now owns 373,301 shares of the energy company’s stock worth $10,777,000 after acquiring an additional 3,201 shares during the period. BlackRock Inc. grew its holdings in shares of Braskem by 236.8% during the 3rd quarter. BlackRock Inc. now owns 407,021 shares of the energy company’s stock worth $11,752,000 after acquiring an additional 286,156 shares during the period. SG Americas Securities LLC grew its holdings in shares of Braskem by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 13,459 shares of the energy company’s stock worth $389,000 after acquiring an additional 4,948 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Braskem by 3.1% during the 3rd quarter. Wells Fargo & Company MN now owns 66,786 shares of the energy company’s stock worth $1,928,000 after acquiring an additional 2,022 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Braskem during the 3rd quarter worth approximately $934,000. 0.53% of the stock is owned by hedge funds and other institutional investors.
Braskem stock opened at $28.36 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.54 and a debt-to-equity ratio of 4.13. The company has a market capitalization of $11.30 billion, a P/E ratio of 8.86 and a beta of 1.10. Braskem SA has a twelve month low of $21.32 and a twelve month high of $32.67.
A number of research firms have weighed in on BAK. ValuEngine upgraded Braskem from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. HSBC downgraded Braskem from a “buy” rating to a “hold” rating in a research note on Friday, September 28th.
ILLEGAL ACTIVITY NOTICE: This article was first published by WKRB News and is the sole property of of WKRB News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.wkrb13.com/2018/11/25/braskem-sa-bak-position-reduced-by-freestone-capital-holdings-llc.html.
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.
Featured Story: Ex-Dividend
Receive News & Ratings for Braskem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Braskem and related companies with MarketBeat.com's FREE daily email newsletter.