Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Braskem S.A. (NYSE:BAK) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 97,500 shares of the company’s stock, valued at approximately $2,128,000.
A number of other institutional investors have also recently made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in shares of Braskem by 311.1% during the second quarter. Wells Fargo & Company MN now owns 1,850 shares of the company’s stock valued at $44,000 after acquiring an additional 1,400 shares in the last quarter. Shilanski & Associates Inc. bought a new stake in shares of Braskem during the 2nd quarter valued at about $495,000. Liberty Wealth Management LLC bought a new stake in shares of Braskem during the 2nd quarter valued at about $97,000. Advisor Group Holdings Inc. lifted its position in shares of Braskem by 1,514.8% during the 2nd quarter. Advisor Group Holdings Inc. now owns 6,750 shares of the company’s stock valued at $160,000 after buying an additional 6,332 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Braskem by 107.6% during the 1st quarter. Morgan Stanley now owns 6,834 shares of the company’s stock valued at $97,000 after buying an additional 3,542 shares in the last quarter.
A number of research analysts have recently weighed in on BAK shares. Grupo Santander cut Braskem from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research report on Tuesday, December 14th. Zacks Investment Research downgraded Braskem from a “buy” rating to a “hold” rating in a research report on Monday, December 6th. Bank of America began coverage on Braskem in a report on Tuesday, September 21st. They issued a “buy” rating and a $32.00 target price for the company. Santander restated a “hold” rating and set a $20.00 price objective on shares of Braskem in a research note on Tuesday, December 14th. Finally, Citigroup increased their price target on Braskem from $25.00 to $68.00 and gave the company a “neutral” rating in a research note on Tuesday, November 2nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.71.
Braskem (NYSE:BAK) last issued its earnings results on Tuesday, November 9th. The company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.39). The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Braskem had a return on equity of 437.34% and a net margin of 14.93%. Research analysts anticipate that Braskem S.A. will post 8.6 earnings per share for the current year.
The firm also recently declared an annual dividend, which was paid on Thursday, December 30th. Shareholders of record on Monday, December 13th were given a $2.7104 dividend. The ex-dividend date of this dividend was Friday, December 10th. This represents a yield of 11.6%. Braskem’s dividend payout ratio (DPR) is 40.09%.
Braskem SA engages in the manufacture of petrochemicals and other related products. It operates through the following segments: Brazil, USA, and Europe and Mexico. The Brazil segment includes production and sale of chemicals, supply of electricity, and production and sale of PE. The USA and Europe segment involves production, operation, and sale of polypropylene in the United States and Germany.
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