Dimensional Fund Advisors LP cut its position in shares of Braskem S.A. (NYSE:BAK) by 2.9% during the first quarter, Holdings Channel reports. The fund owned 975,273 shares of the energy company’s stock after selling 28,629 shares during the period. Dimensional Fund Advisors LP’s holdings in Braskem were worth $19,831,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of BAK. Envestnet Asset Management Inc. boosted its stake in shares of Braskem by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 16,065 shares of the energy company’s stock worth $326,000 after buying an additional 139 shares during the last quarter. Comerica Bank boosted its stake in shares of Braskem by 1.5% in the first quarter. Comerica Bank now owns 9,889 shares of the energy company’s stock worth $211,000 after buying an additional 147 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Braskem by 15.4% in the first quarter. Eqis Capital Management Inc. now owns 13,652 shares of the energy company’s stock worth $278,000 after buying an additional 1,818 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Braskem by 19.6% in the first quarter. Daiwa Securities Group Inc. now owns 40,300 shares of the energy company’s stock worth $820,000 after buying an additional 6,600 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Braskem by 14.5% in the first quarter. Advisors Asset Management Inc. now owns 80,301 shares of the energy company’s stock worth $1,634,000 after buying an additional 10,179 shares during the last quarter. 0.85% of the stock is currently owned by hedge funds and other institutional investors.

Braskem S.A. (NYSE:BAK) traded up 0.04% during midday trading on Friday, hitting $23.81. 389,863 shares of the company’s stock traded hands. Braskem S.A. has a 52 week low of $13.06 and a 52 week high of $25.68. The company has a 50 day moving average of $22.93 and a 200-day moving average of $21.26.

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A number of brokerages recently commented on BAK. BidaskClub cut shares of Braskem from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine raised shares of Braskem from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Braskem from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research note on Friday, June 30th. Finally, Morgan Stanley raised shares of Braskem from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 17th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $21.33.

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.

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Institutional Ownership by Quarter for Braskem (NYSE:BAK)

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