Centric Wealth Management Has $273,000 Stock Position in Braskem S.A. (NYSE:BAK)

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

Other institutional investors have also added to or reduced their stakes in the company. 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 worth $3,427,000 after acquiring an additional 59,916 shares during the period. Trexquant Investment LP increased its holdings in shares of Braskem by 12.5% in the third 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. Finally, Alpine Global Management LLC bought a new position in shares of Braskem in the third quarter valued at about $82,000.

Braskem Price Performance

Shares of BAK stock traded up $0.11 during midday trading on Tuesday, hitting $7.86. 1,132,028 shares of the company were exchanged, compared to its average volume of 1,033,699. 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 two-hundred day moving average price is $8.19. The company has a debt-to-equity ratio of 16.23, a quick ratio of 1.02 and a current ratio of 1.53.

Braskem (NYSE:BAK) last announced its earnings results on Tuesday, March 19th. The company reported ($0.80) earnings per share (EPS) 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.50 billion. As a group, equities analysts forecast that Braskem S.A. will post -1.71 earnings per share 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.