JPMorgan Chase & Co. boosted its position in shares of Braskem S.A. (NYSE:BAK) by 75.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,291 shares of the energy company’s stock after purchasing an additional 112,024 shares during the period. JPMorgan Chase & Co.’s holdings in Braskem were worth $5,414,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG increased its holdings in Braskem by 5.2% during the 1st quarter. UBS Group AG now owns 6,010 shares of the energy company’s stock worth $122,000 after purchasing an additional 297 shares in the last quarter. Comerica Bank increased its holdings in Braskem by 1.5% during the 1st quarter. Comerica Bank now owns 9,889 shares of the energy company’s stock worth $211,000 after purchasing an additional 147 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Braskem by 0.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 16,065 shares of the energy company’s stock worth $326,000 after purchasing an additional 139 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Braskem by 29.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 52,200 shares of the energy company’s stock worth $1,082,000 after purchasing an additional 11,900 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Braskem by 7.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 86,457 shares of the energy company’s stock worth $1,791,000 after purchasing an additional 6,156 shares in the last quarter. Hedge funds and other institutional investors own 0.66% of the company’s stock.

Braskem S.A. (NYSE:BAK) opened at 28.06 on Friday. The firm has a market capitalization of $11.17 billion, a P/E ratio of 28.34 and a beta of 1.13. The stock’s 50 day moving average is $25.82 and its 200-day moving average is $22.58. Braskem S.A. has a 1-year low of $14.93 and a 1-year high of $29.07.

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BAK has been the subject of a number of research reports. BidaskClub upgraded Braskem from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Morgan Stanley upgraded Braskem from an “equal weight” rating to an “overweight” rating in a report on Monday, July 17th. Finally, Zacks Investment Research downgraded shares of Braskem from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $20.00.

Braskem Company Profile

Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.

Institutional Ownership by Quarter for Braskem (NYSE:BAK)

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