Deltec Asset Management LLC lifted its position in Cosan Ltd (NYSE:CZZ) by 135.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 392,770 shares of the basic materials company’s stock after buying an additional 225,770 shares during the quarter. Deltec Asset Management LLC’s holdings in Cosan were worth $2,643,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in shares of Cosan by 97.1% in the 2nd quarter. Wells Fargo & Company MN now owns 3,862,922 shares of the basic materials company’s stock worth $29,474,000 after acquiring an additional 1,903,141 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Cosan by 91.1% in the 2nd quarter. Acadian Asset Management LLC now owns 2,613,750 shares of the basic materials company’s stock worth $19,942,000 after acquiring an additional 1,245,933 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Cosan by 10.0% in the 1st quarter. Millennium Management LLC now owns 2,118,061 shares of the basic materials company’s stock worth $22,007,000 after acquiring an additional 192,606 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Cosan by 47.0% in the 2nd quarter. BlackRock Inc. now owns 1,757,324 shares of the basic materials company’s stock worth $13,409,000 after acquiring an additional 561,980 shares during the last quarter. Finally, Lonestar Capital Management LLC acquired a new position in shares of Cosan in the 2nd quarter worth $9,144,000. Institutional investors and hedge funds own 26.72% of the company’s stock.
NYSE:CZZ traded up $0.23 during mid-day trading on Thursday, reaching $8.01. The stock had a trading volume of 90,109 shares, compared to its average volume of 1,041,739. Cosan Ltd has a 12 month low of $6.20 and a 12 month high of $11.89. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 12.25 and a beta of 2.18. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.58 and a quick ratio of 1.48.
Cosan (NYSE:CZZ) last posted its earnings results on Friday, August 10th. The basic materials company reported $0.13 EPS for the quarter. The company had revenue of $1.14 billion during the quarter. Cosan had a net margin of 4.79% and a return on equity of 4.77%. As a group, analysts anticipate that Cosan Ltd will post 0.55 EPS for the current fiscal year.
A number of brokerages have recently weighed in on CZZ. Credit Suisse Group downgraded Cosan from an “outperform” rating to a “neutral” rating in a report on Monday, July 23rd. Zacks Investment Research downgraded Cosan from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Cosan currently has an average rating of “Hold” and a consensus target price of $12.50.
Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol businesses primarily in Brazil and internationally. The company's Raízen Energia produces and markets products derived from sugar cane, including raw sugar, anhydrous, and hydrated ethanol, as well as activities related to energy cogeneration from sugarcane bagasse.
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