First Trust Direct Indexing L.P. Trims Holdings in Braskem S.A. (NYSE:BAK)

First Trust Direct Indexing L.P. decreased its holdings in shares of Braskem S.A. (NYSE:BAK) by 14.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,174 shares of the company’s stock after selling 1,762 shares during the period. First Trust Direct Indexing L.P.’s holdings in Braskem were worth $90,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Global Management LLC bought a new position in shares of Braskem during the third quarter valued at approximately $82,000. Trexquant Investment LP raised its holdings in Braskem by 12.5% in the 3rd quarter. Trexquant Investment LP now owns 47,753 shares of the company’s stock worth $392,000 after purchasing an additional 5,294 shares in the last quarter. Centric Wealth Management purchased a new stake in shares of Braskem in the 3rd quarter worth about $1,321,000. Finally, Optiver Holding B.V. boosted its stake in shares of Braskem by 16.8% during the 3rd quarter. Optiver Holding B.V. now owns 417,432 shares of the company’s stock valued at $3,427,000 after purchasing an additional 59,916 shares in the last quarter.

Braskem Price Performance

BAK stock opened at $7.75 on Thursday. The company has a debt-to-equity ratio of 16.23, a current ratio of 1.53 and a quick ratio of 1.02. Braskem S.A. has a 1 year low of $6.30 and a 1 year high of $12.67. The firm has a 50-day moving average of $9.14 and a 200 day moving average of $8.19.

Braskem (NYSE:BAK) last posted its earnings results on Tuesday, March 19th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.50 billion. As a group, equities research analysts anticipate that Braskem S.A. will post -1.71 EPS for the current fiscal year.

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.