Braskem SA (BAK) Receives New Coverage from Analysts at HSBC
Investment 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 raised shares of Braskem SA from a “strong sell” rating to a “hold” rating in a report on Friday, September 9th.
Braskem SA (NYSE:BAK) traded up 2.76% during mid-day trading on Tuesday, hitting $16.00. 329,743 shares of the stock traded hands. The company’s 50 day moving average is $14.52 and its 200 day moving average is $12.89. The company has a market cap of $6.37 billion, a P/E ratio of 6.90 and a beta of 1.69. Braskem SA has a 12 month low of $9.44 and a 12 month high of $16.25.
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The company also recently declared a dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Tuesday, October 11th will be given a $0.764 dividend. This is a positive change from Braskem SA’s previous dividend of $0.65. The ex-dividend date of this dividend is Thursday, October 6th. Braskem SA’s dividend payout ratio is presently 69.23%.
Several institutional investors have recently bought and sold shares of BAK. Hanseatic Management Services Inc. raised its position in Braskem SA by 0.7% in the second quarter. Hanseatic Management Services Inc. now owns 50,003 shares of the company’s stock worth $593,000 after buying an additional 351 shares during the last quarter. Jane Street Group LLC raised its position in Braskem SA by 5.2% in the second quarter. Jane Street Group LLC now owns 31,960 shares of the company’s stock worth $379,000 after buying an additional 1,579 shares during the last quarter. A.R.T. Advisors LLC raised its position in Braskem SA by 6.6% in the first quarter. A.R.T. Advisors LLC now owns 53,187 shares of the company’s stock worth $686,000 after buying an additional 3,300 shares during the last quarter. Advisor Group Inc. purchased a new position in Braskem SA during the second quarter worth $110,000. Finally, Dynamic Technology Lab Private Ltd raised its position in Braskem SA by 40.9% in the second quarter. Dynamic Technology Lab Private Ltd now owns 32,645 shares of the company’s stock worth $387,000 after buying an additional 9,475 shares during the last quarter. Institutional investors and hedge funds 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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