Centric Wealth Management Reduces Stock Position in Braskem S.A. (NYSE:BAK)

Centric Wealth Management trimmed its position in shares of Braskem S.A. (NYSE:BAK) by 80.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,955 shares of the company’s stock after selling 130,005 shares during the period. Centric Wealth Management’s holdings in Braskem were worth $273,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Trexquant Investment LP raised its position in Braskem by 12.5% during the 3rd quarter. Trexquant Investment LP now owns 47,753 shares of the company’s stock valued at $392,000 after purchasing an additional 5,294 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of Braskem during the third quarter valued at approximately $82,000. Finally, Optiver Holding B.V. lifted its stake in Braskem by 16.8% in the third quarter. Optiver Holding B.V. now owns 417,432 shares of the company’s stock worth $3,427,000 after acquiring an additional 59,916 shares during the period.

Braskem Trading Up 1.4 %

Braskem stock traded up $0.11 during mid-day trading on Tuesday, reaching $7.86. 1,132,028 shares of the company traded hands, compared to its average volume of 1,033,699. The company has a quick ratio of 1.02, a current ratio of 1.53 and a debt-to-equity ratio of 16.23. Braskem S.A. has a 52-week low of $6.30 and a 52-week high of $12.67. The firm’s 50 day moving average price is $9.14 and its 200 day moving average price is $8.19.

Braskem (NYSE:BAK) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.25). Braskem had a negative return on equity of 87.01% and a negative net margin of 6.61%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.50 billion. On average, sell-side analysts anticipate that Braskem S.A. will post -1.71 earnings per share 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.