Itau Unibanco Holding S.A. Trims Position in Suzano S.A. Sponsored ADR $SUZ

Key Points

• Itau Unibanco Holding S.A. significantly reduced its stake in Suzano S.A. by 76.4%, selling over 2.8 million shares, leaving it with 870,012 shares valued at approximately $7.93 million.
• Several other institutional investors began new positions in Suzano during the first quarter, with total institutional ownership now at 2.55%.
• Analysts have mixed ratings on Suzano, with some upgrading the stock to a "strong-buy" while others have rated it as a "hold," resulting in an average rating of "Strong Buy."

Itau Unibanco Holding S.A. trimmed its position in Suzano S.A. Sponsored ADR (NYSE:SUZ - Free Report) by 76.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 870,012 shares of the company's stock after selling 2,810,045 shares during the period. Itau Unibanco Holding S.A. owned 0.07% of Suzano worth $7,931,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUZ. Financial Management Professionals Inc. purchased a new stake in Suzano in the first quarter worth $28,000. GAMMA Investing LLC boosted its holdings in Suzano by 311.8% in the first quarter. GAMMA Investing LLC now owns 11,492 shares of the company's stock worth $107,000 after acquiring an additional 8,701 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Suzano by 10.6% in the fourth quarter. Ameriprise Financial Inc. now owns 12,090 shares of the company's stock worth $126,000 after acquiring an additional 1,155 shares in the last quarter. Bridgefront Capital LLC bought a new stake in Suzano in the fourth quarter worth $129,000. Finally, Mariner LLC boosted its holdings in Suzano by 29.1% in the fourth quarter. Mariner LLC now owns 13,326 shares of the company's stock worth $135,000 after acquiring an additional 3,006 shares in the last quarter. 2.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SUZ. Wall Street Zen downgraded Suzano from a "buy" rating to a "hold" rating in a report on Tuesday, July 29th. Zacks Research raised Suzano to a "strong-buy" rating in a report on Friday, August 8th. Finally, The Goldman Sachs Group raised Suzano from a "neutral" rating to a "buy" rating in a report on Friday, June 13th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, Suzano currently has a consensus rating of "Strong Buy".

Suzano Stock Performance

Suzano stock traded down $0.10 during mid-day trading on Tuesday, reaching $9.64. 385,104 shares of the stock traded hands, compared to its average volume of 1,845,555. The stock has a market capitalization of $12.76 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.10 and a beta of 0.85. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.16 and a quick ratio of 2.48. Suzano S.A. Sponsored ADR has a 12-month low of $8.41 and a 12-month high of $10.98. The business's 50-day moving average is $9.48 and its 200-day moving average is $9.37.

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.