HSBC assumed coverage on shares of Braskem SA (NYSE:BAK) in a report issued on Tuesday. The brokerage issued a buy rating on the stock.

Separately, Zacks Investment Research raised Braskem SA from a strong sell rating to a hold rating in a research report on Friday, September 9th.

Braskem SA (NYSE:BAK) traded up 1.22% during trading on Tuesday, reaching $16.55. The company had a trading volume of 248,460 shares. Braskem SA has a 12 month low of $9.44 and a 12 month high of $16.58. The company has a market capitalization of $6.59 billion, a P/E ratio of 7.13 and a beta of 1.69. The stock has a 50 day moving average of $14.61 and a 200-day moving average of $12.92.

The firm also recently declared a dividend, which will be paid on Tuesday, October 18th. Investors of record on Tuesday, October 11th will be given a dividend of $0.764 per share. This is a positive change from Braskem SA’s previous dividend of $0.65. The ex-dividend date of this dividend is Thursday, October 6th. Braskem SA’s payout ratio is presently 69.23%.

A number of hedge funds and other institutional investors have recently modified their holdings of BAK. Advisor Group Inc. purchased a new position in shares of Braskem SA during the second quarter valued at $110,000. Royal Bank of Canada purchased a new position in shares of Braskem SA during the first quarter valued at $145,000. Nuveen Fund Advisors LLC purchased a new position in shares of Braskem SA during the second quarter valued at $173,000. Bank of New York Mellon Corp purchased a new position in shares of Braskem SA during the second quarter valued at $173,000. Finally, Eqis Capital Management Inc. purchased a new position in shares of Braskem SA during the third quarter valued at $236,000. 1.16% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NYSE:BAK

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