Millennium Management LLC Cuts Holdings in Suzano S.A. (NYSE:SUZ)

Millennium Management LLC trimmed its holdings in shares of Suzano S.A. (NYSE:SUZ) by 84.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 658,904 shares of the company’s stock after selling 3,479,648 shares during the period. Millennium Management LLC’s holdings in Suzano were worth $6,767,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in shares of Suzano by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,798 shares of the company’s stock valued at $100,000 after buying an additional 1,222 shares during the period. Caprock Group LLC bought a new position in Suzano in the 2nd quarter worth $103,000. Ballentine Partners LLC bought a new stake in Suzano during the first quarter valued at about $154,000. Choreo LLC bought a new stake in Suzano during the second quarter valued at about $128,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Suzano during the first quarter valued at about $183,000. 2.55% of the stock is currently owned by hedge funds and other institutional investors.

Suzano Price Performance

NYSE:SUZ opened at $9.72 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.48 and a debt-to-equity ratio of 2.00. The business’s 50-day simple moving average is $9.83 and its two-hundred day simple moving average is $10.21. The stock has a market cap of $12.87 billion, a PE ratio of 6.94 and a beta of 0.98. Suzano S.A. has a 52 week low of $8.78 and a 52 week high of $12.98.

Suzano (NYSE:SUZ) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.56) EPS for the quarter. The business had revenue of $2.21 billion for the quarter. Suzano had a net margin of 1.05% and a return on equity of 0.98%. As a group, analysts forecast that Suzano S.A. will post 0.63 EPS 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.