Suzano (NYSE:SUZ) Stock Price Down 5.9%

Shares of Suzano S.A. (NYSE:SUZ) traded down 5.9% during mid-day trading on Thursday . The stock traded as low as $10.46 and last traded at $10.46. 31,044 shares changed hands during trading, a decline of 96% from the average session volume of 716,254 shares. The stock had previously closed at $11.11.

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised shares of Suzano from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 24th. The Goldman Sachs Group initiated coverage on shares of Suzano in a research note on Wednesday. They set a “sell” rating on the stock.

The company has a current ratio of 2.95, a quick ratio of 2.36 and a debt-to-equity ratio of 4.56. The firm’s 50-day moving average is $11.10 and its two-hundred day moving average is $11.95. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 5.99 and a beta of 1.51.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SUZ. Comerica Bank raised its position in shares of Suzano by 3.9% during the 1st quarter. Comerica Bank now owns 76,576 shares of the company’s stock worth $977,000 after purchasing an additional 2,862 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Suzano by 24.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 19,071 shares of the company’s stock worth $233,000 after purchasing an additional 3,696 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Suzano by 308.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,261 shares of the company’s stock valued at $28,000 after acquiring an additional 1,708 shares during the last quarter. BlackRock Inc. raised its holdings in Suzano by 2,657.6% in the 1st quarter. BlackRock Inc. now owns 340,622 shares of the company’s stock valued at $4,162,000 after acquiring an additional 328,270 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Suzano by 1,690.4% in the 1st quarter. JPMorgan Chase & Co. now owns 74,769 shares of the company’s stock valued at $914,000 after acquiring an additional 70,593 shares during the last quarter. Hedge funds and other institutional investors own 1.31% of the company’s stock.

Suzano Company Profile (NYSE:SUZ)

Suzano SA engages in the production of hardwood pulp from eucalyptus and paper. It operates through the Pulp, and Paper segments. The Pulp segment comprises of production and sale of hardwood eucalyptus pulp and fluff mainly to supply the export market, with any surplus destined to the domestic market.

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