UBS Group AG boosted its position in shares of Braskem S.A. (NYSE:BAK) by 5.2% during the first quarter, Holdings Channel reports. The firm owned 6,010 shares of the energy company’s stock after buying an additional 297 shares during the period. UBS Group AG’s holdings in Braskem were worth $122,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Comerica Bank boosted its position in 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 period. Eqis Capital Management Inc. boosted its position in 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 period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Braskem during the first quarter worth $294,000. Envestnet Asset Management Inc. boosted its position in 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 period. Finally, Daiwa Securities Group Inc. boosted its position in 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 period. Institutional investors own 0.85% of the company’s stock.

Shares of Braskem S.A. (NYSE BAK) traded up 0.04% during mid-day trading on Friday, reaching $23.81. 389,863 shares of the company’s stock traded hands. Braskem S.A. has a 12-month low of $13.06 and a 12-month high of $25.68. The company’s 50 day moving average is $22.93 and its 200 day moving average is $21.26.

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A number of research analysts recently weighed in on the stock. BidaskClub cut shares of Braskem from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Braskem from a “hold” rating to a “strong-buy” rating and set a $24.00 target price on the stock in a research note on Friday, June 30th. Morgan Stanley upgraded shares of Braskem from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 17th. Finally, ValuEngine upgraded shares of Braskem from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target 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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