Braskem S.A. (BAK) Sets New 1-Year High at $33.40

Braskem S.A. (NYSE:BAK) reached a new 52-week high during trading on Monday . The stock traded as high as $33.40 and last traded at $33.29, with a volume of 1,706,808 shares changing hands. The stock had previously closed at $29.31.

Several equities research analysts have recently commented on BAK shares. Morgan Stanley raised Braskem from an “equal weight” rating to an “overweight” rating in a report on Monday, July 17th. BidaskClub raised Braskem from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research downgraded Braskem from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Braskem presently has an average rating of “Buy” and a consensus target price of $28.00.

The company has a market capitalization of $12.96 billion, a P/E ratio of 32.89 and a beta of 1.13. The company’s 50 day moving average is $27.91 and its 200-day moving average is $23.55.

A number of institutional investors have recently made changes to their positions in BAK. Comerica Bank grew its holdings in Braskem by 1.5% during the first quarter. Comerica Bank now owns 9,889 shares of the energy company’s stock worth $211,000 after buying an additional 147 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in Braskem by 146.8% during the first quarter. Parametric Portfolio Associates LLC now owns 122,590 shares of the energy company’s stock worth $2,495,000 after buying an additional 72,925 shares in the last quarter. UBS Group AG grew its holdings in Braskem by 5.2% during the first quarter. UBS Group AG now owns 6,010 shares of the energy company’s stock worth $122,000 after buying an additional 297 shares in the last quarter. Morgan Stanley grew its holdings in Braskem by 19.0% during the first quarter. Morgan Stanley now owns 163,679 shares of the energy company’s stock worth $3,330,000 after buying an additional 26,088 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Braskem by 15.2% during the first quarter. Bank of America Corp DE now owns 362,984 shares of the energy company’s stock worth $7,387,000 after buying an additional 47,761 shares in the last quarter. Institutional investors and hedge funds own 0.66% of the company’s stock.

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About Braskem

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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