Goldman Sachs Group Inc. trimmed its position in shares of Braskem S.A. (NYSE:BAK) by 90.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,972 shares of the energy company’s stock after selling 911,251 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Braskem were worth $1,905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Comerica Bank grew its stake in Braskem by 1.5% during 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. Wells Fargo & Company MN grew its stake in Braskem by 0.3% during the second quarter. Wells Fargo & Company MN now owns 79,124 shares of the energy company’s stock worth $1,639,000 after buying an additional 274 shares during the last quarter. UBS Group AG grew its stake in Braskem by 5.2% during the first quarter. UBS Group AG now owns 6,010 shares of the energy company’s stock worth $122,000 after buying an additional 297 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in Braskem by 0.8% during the second quarter. Parametric Portfolio Associates LLC now owns 123,539 shares of the energy company’s stock worth $2,560,000 after buying an additional 949 shares during the last quarter. Finally, Citigroup Inc. grew its stake in Braskem by 168.5% during the second quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock worth $170,000 after buying an additional 5,157 shares during the last quarter. 0.66% of the stock is currently owned by hedge funds and other institutional investors.

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Several analysts have weighed in on the stock. Zacks Investment Research raised shares of Braskem from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, October 18th. BidaskClub cut shares of Braskem from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. 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 equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.00.

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.

Institutional Ownership by Quarter for Braskem (NYSE:BAK)

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