Itochu (OTCMKTS:ITOCY) Sees Strong Trading Volume – Here’s What Happened

Shares of Itochu Corp. (OTCMKTS:ITOCY) saw unusually-high trading volume on Tuesday . Approximately 955,391 shares traded hands during trading, an increase of 144% from the previous session’s volume of 391,515 shares.The stock last traded at $12.93 and had previously closed at $12.96.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Itochu in a research report on Tuesday, January 6th. They issued a “buy” rating on the stock. Zacks Research raised Itochu to a “hold” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Itochu Trading Down 2.8%

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.30 and a quick ratio of 0.96. The company has a market cap of $101.51 billion, a price-to-earnings ratio of 13.63 and a beta of 0.69. The business’s fifty day moving average price is $74.33 and its 200 day moving average price is $99.90.

Itochu (OTCMKTS:ITOCY) last announced its earnings results on Wednesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.10). The company had revenue of $24.06 billion during the quarter, compared to analyst estimates of $24.65 billion.

Institutional Trading of Itochu

Several institutional investors have recently added to or reduced their stakes in ITOCY. OLD National Bancorp IN bought a new position in Itochu during the 4th quarter worth approximately $201,000. Confluence Investment Management LLC boosted its position in Itochu by 4.8% during the fourth quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock valued at $1,243,000 after acquiring an additional 446 shares during the last quarter. GAMMA Investing LLC grew its holdings in Itochu by 21.8% during the 4th quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $364,000 after acquiring an additional 516 shares during the period. Salomon & Ludwin LLC raised its position in shares of Itochu by 1,370.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock worth $29,000 after acquiring an additional 233 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Itochu by 38.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock valued at $48,000 after purchasing an additional 125 shares during the period. 0.08% of the stock is currently owned by institutional investors.

Itochu Company Profile

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.