Separately, Zacks Investment Research upgraded shares of Braskem SA from a strong sell rating to a hold rating in a research report on Friday, September 9th.
Braskem SA (NYSE:BAK) opened at 16.95 on Tuesday. The company’s 50-day moving average is $14.86 and its 200-day moving average is $13.00. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 7.31 and a beta of 1.69. Braskem SA has a 52-week low of $10.05 and a 52-week high of $17.30.
The company also recently disclosed a dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Tuesday, October 11th will be given a dividend of $0.764 per share. 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 dividend payout ratio is presently 69.23%.
A number of institutional investors have recently made changes to their positions in BAK. Advisor Group Inc. purchased a new position in shares of Braskem SA during the second quarter worth approximately $110,000. Royal Bank of Canada purchased a new position in shares of Braskem SA during the first quarter worth approximately $145,000. Nuveen Fund Advisors LLC purchased a new position in shares of Braskem SA during the second quarter worth approximately $173,000. Bank of New York Mellon Corp purchased a new position in shares of Braskem SA during the second quarter worth approximately $173,000. Finally, Eqis Capital Management Inc. purchased a new position in shares of Braskem SA during the third quarter worth approximately $236,000. Institutional investors own 1.14% 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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