Absolute Gestao de Investimentos Ltda. Takes Position in Suzano S.A. (NYSE:SUZ)

Absolute Gestao de Investimentos Ltda. bought a new position in shares of Suzano S.A. (NYSE:SUZ) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 273,180 shares of the company’s stock, valued at approximately $2,806,000. Suzano accounts for 1.5% of Absolute Gestao de Investimentos Ltda.’s investment portfolio, making the stock its 16th biggest position.

Several other hedge funds have also recently bought and sold shares of SUZ. PNC Financial Services Group Inc. grew its stake in Suzano by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,798 shares of the company’s stock worth $100,000 after buying an additional 1,222 shares during the period. Caprock Group LLC purchased a new position in Suzano in the second quarter valued at about $103,000. Choreo LLC purchased a new position in Suzano in the second quarter valued at about $128,000. Ballentine Partners LLC acquired a new position in shares of Suzano during the first quarter worth about $154,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Suzano in the first quarter worth about $183,000. Hedge funds and other institutional investors own 2.55% of the company’s stock.

Suzano Stock Performance

Shares of NYSE:SUZ opened at $9.72 on Wednesday. The business’s 50-day simple moving average is $9.72 and its 200 day simple moving average is $10.36. The company has a market cap of $12.87 billion, a P/E ratio of 6.94 and a beta of 0.99. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.03 and a current ratio of 2.48. Suzano S.A. has a one year low of $8.78 and a one year high of $12.98.

Suzano (NYSE:SUZ) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter. Suzano had a net margin of 1.05% and a return on equity of 0.98%. The firm had revenue of $2.21 billion for the quarter. On average, sell-side analysts forecast that Suzano S.A. will post 1.41 earnings per share for the current fiscal year.

Suzano Company Profile

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. 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; industrialization, commercialization, and exporting of pulp and standing wood; road freight transport; biotechnology research and development; and commercialization of paper and computer materials.