Braskem SA (BAK) Coverage Initiated at HSBC
Stock analysts at HSBC assumed coverage on shares of Braskem SA (NYSE:BAK) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating on the stock.
Separately, Zacks Investment Research lowered Braskem SA from a “buy” rating to a “strong sell” rating in a research note on Monday, July 25th.
Braskem SA (NYSE:BAK) traded up 2.89% during mid-day trading on Tuesday, reaching $16.02. 430,494 shares of the company traded hands. Braskem SA has a 12-month low of $9.44 and a 12-month high of $16.25. The company’s 50-day moving average is $14.52 and its 200-day moving average is $12.89. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 6.91 and a beta of 1.69.
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The business also recently disclosed a dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Tuesday, October 11th will be given a $0.764 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This is an increase from Braskem SA’s previous dividend of $0.65. Braskem SA’s payout ratio is presently 69.23%.
A number of hedge funds have recently made changes to their positions in BAK. Advisor Group Inc. bought a new stake in shares of Braskem SA during the second quarter valued at $110,000. Royal Bank of Canada bought a new stake in shares of Braskem SA during the first quarter valued at $145,000. Nuveen Fund Advisors LLC bought a new stake in shares of Braskem SA during the second quarter valued at $173,000. Bank of New York Mellon Corp bought a new stake in shares of Braskem SA during the second quarter valued at $173,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Braskem SA during the third quarter valued at $236,000. Hedge funds and other institutional investors own 1.16% of the company’s stock.
Braskem SA 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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