Braskem S.A. (NYSE:BAK) has been given a consensus rating of “Buy” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $22.00.
BAK has been the subject of a number of recent analyst reports. BidaskClub downgraded Braskem from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded Braskem from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, UBS downgraded Braskem from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 21st.
Hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its position in shares of Braskem by 5.2% during the 1st quarter. UBS Group AG now owns 6,010 shares of the energy company’s stock worth $122,000 after buying an additional 297 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Braskem during the 3rd quarter worth $133,000. Citigroup Inc. lifted its position in shares of Braskem by 168.5% during the 2nd quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock worth $170,000 after buying an additional 5,157 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Braskem by 50.6% during the 3rd quarter. Advisor Group Inc. now owns 6,985 shares of the energy company’s stock worth $187,000 after buying an additional 2,346 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Braskem by 10,474.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,574 shares of the energy company’s stock worth $219,000 after buying an additional 10,474 shares during the last quarter. Institutional investors and hedge funds own 0.63% of the company’s stock.
The firm also recently disclosed a special dividend, which will be paid on Friday, December 22nd. Investors of record on Monday, December 11th will be given a dividend of $0.7748 per share. The ex-dividend date of this dividend is Friday, December 8th.
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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