Braskem (NYSE:BAK) is a global leader in petrochemicals, with operations in North America, South America, and Europe. The company has recently received an upgrade by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Tuesday.
This announcement has caused widespread interest among investors who have been closely watching Braskem’s performance. A number of institutional investors have also made significant changes to their positions in the company. Atlas Capital Advisors LLC alone grew its position in shares of Braskem by 85.9% during the fourth quarter. The investment advisor now owns over 4,000 shares of the company’s stock valued at $40,000 after purchasing an additional 1,986 shares during this time.
Other high profile financial institutions have also joined the fray, including Squarepoint Ops LLC and Millennium Management LLC who have both purchased new positions in shares of Braskem during the fourth quarter valued at around $418,000 and $844,000 respectively.
These moves highlight growing optimism about Braskem’s outlook and indicate that investors are keen to take advantage of opportunities presented by the company’s profitable business model. It is no surprise that hedge funds and other institutional investors own 0.01% of the company’s stock.
With all these positive indicators pointing to growth for Braskem, it is no wonder that many are encouraging more investment into this dynamic international organization. As one the premier players in petrochemicals industry worldwide, there is surely more upside than downside for those willing to take chances with their capital here. Investors should watch closely as events develop over coming months – could you be part of this exciting story?
Mixed Reviews for Petrochemical Manufacturing Company Braskem
Braskem, a petrochemical manufacturing company, has recently received mixed reviews from investment analysts. On December 15th, UBS Group downgraded Braskem’s rating from “buy” to “neutral”. Despite this change, the company’s stock has had a relatively steady performance, with one analyst issuing a sell rating and two others recommending a buy rating. The conclusion drawn from Bloomberg data is that on average, Braskem’s stock should be held.
Shares of Braskem (stock symbol BAK) opened at $7.17 on Tuesday. With a 52-week high of $19.84 and a low of $6.26, it is clear that this company is prone to fluctuations in value. As of now, Braskem has a market capitalization of $3.24 billion and sports an unimpressive PE ratio of -35.85 along with more impressive beta value of 1.69.
Braskem segments its operations into Brazil, the USA, and Europe/Mexico regionally. Within Brazil are chemicals production and sales as well as electricity supply with the addition of polyethylene production and distribution. Meanwhile in Europe and Mexico includes mostly production facilities for polypropylene materials distributed throughout Germany and the United States respectively.
In summary then we have an interesting picture surrounding Braskem’s recent news coverage: while downgrades from respected investment groups are always hard blows to take being stuck in neutral could be seen by some as preferable to a tepidly bullish or bearish prognosis…for their portfolio at least!