Ritholtz Wealth Management purchased a new stake in Suzano S.A. (NYSE:SUZ – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,470 shares of the company's stock, valued at approximately $86,000.
A number of other institutional investors have also recently made changes to their positions in the business. Pendal Group Ltd lifted its holdings in shares of Suzano by 22.9% in the 3rd quarter. Pendal Group Ltd now owns 4,994,173 shares of the company's stock valued at $41,202,000 after acquiring an additional 929,800 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in Suzano in the 2nd quarter worth about $231,000. Goldman Sachs Group Inc. raised its position in Suzano by 43.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 35,534 shares of the company's stock worth $337,000 after purchasing an additional 10,726 shares during the period. Atlas Capital Advisors LLC purchased a new stake in Suzano in the 2nd quarter worth about $149,000. Finally, Jane Street Group LLC raised its position in Suzano by 45.3% in the 2nd quarter. Jane Street Group LLC now owns 267,616 shares of the company's stock worth $2,533,000 after purchasing an additional 83,377 shares during the period. Institutional investors own 2.33% of the company's stock.
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Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. raised shares of Suzano from a "neutral" rating to an "overweight" rating in a research report on Monday, October 24th.
Suzano Stock Performance
Suzano stock opened at $9.24 on Monday. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.81 and a quick ratio of 2.35. Suzano S.A. has a 1-year low of $7.70 and a 1-year high of $12.82. The firm has a market capitalization of $12.58 billion, a P/E ratio of 3.57, a price-to-earnings-growth ratio of 0.24 and a beta of 1.23. The company's 50-day moving average is $10.05 and its 200 day moving average is $9.34.
Suzano (NYSE:SUZ – Get Rating) last issued its earnings results on Thursday, October 27th. The company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.32. The business had revenue of $2.71 billion for the quarter. Suzano had a net margin of 38.55% and a return on equity of 77.19%. Research analysts forecast that Suzano S.A. will post 3.4 EPS for the current year.
Suzano Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, January 9th. Stockholders of record on Tuesday, December 20th will be given a dividend of $0.323 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 13.98%. The ex-dividend date is Monday, December 19th. Suzano's dividend payout ratio (DPR) is presently 49.42%.
Suzano Company Profile
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Suzano SA produces and sells eucalyptus pulp and paper products in Brazil and internationally. It operates through Pulp and Paper segments. The company offers coated and uncoated printing and writing papers, paperboards, tissue papers, and market and fluff pulps; and lignin and its byproducts. It also engages in the research, development, and production of biofuel; operation of port terminals; power generation and distribution business; commercialization of equipment and parts; biotechnology research and development; and commercialization of paper and computer materials.
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