UBS Group upgraded shares of Braskem (NYSE:BAK) from a market perform rating to an outperform rating in a research report released on Tuesday morning, The Fly reports.
Separately, Zacks Investment Research downgraded Braskem from a strong-buy rating to a hold rating in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Braskem currently has a consensus rating of Buy and an average price target of $34.00.
Braskem (NYSE BAK) traded up $2.03 during mid-day trading on Tuesday, hitting $32.01. The stock had a trading volume of 856,280 shares, compared to its average volume of 350,299. Braskem has a 1 year low of $17.44 and a 1 year high of $33.73. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.86 and a quick ratio of 0.58.
The company also recently announced a special dividend, which was paid on Friday, December 22nd. Stockholders of record on Monday, December 11th were paid a $0.7748 dividend. The ex-dividend date of this dividend was Friday, December 8th.
Several institutional investors and hedge funds have recently modified their holdings of BAK. JPMorgan Chase & Co. grew its stake in shares of Braskem by 75.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 261,291 shares of the energy company’s stock valued at $5,414,000 after buying an additional 112,024 shares during the period. Wells Fargo & Company MN grew its stake in shares of Braskem by 0.3% in the 2nd quarter. Wells Fargo & Company MN now owns 79,124 shares of the energy company’s stock valued at $1,639,000 after buying an additional 274 shares during the period. Citigroup Inc. grew its stake in shares of Braskem by 168.5% in the 2nd quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock valued at $170,000 after buying an additional 5,157 shares during the period. Vanguard Group Inc. grew its stake in shares of Braskem by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 984,260 shares of the energy company’s stock valued at $20,394,000 after buying an additional 56,342 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Braskem by 0.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 123,539 shares of the energy company’s stock valued at $2,560,000 after buying an additional 949 shares during the period. Institutional investors own 0.63% of the company’s stock.
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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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