Itochu (OTCMKTS:ITOCY) Sees Unusually-High Trading Volume – Here’s Why

Itochu Corp. (OTCMKTS:ITOCY) shares saw an uptick in trading volume on Tuesday . Approximately 817,988 shares were traded during trading, an increase of 67% from the previous session’s volume of 488,613 shares.The stock last traded at $12.53 and had previously closed at $12.35.

Itochu Price Performance

The firm has a 50-day simple moving average of $11.76 and a two-hundred day simple moving average of $12.57. The company has a market capitalization of $98.82 billion, a price-to-earnings ratio of 14.01 and a beta of 0.63. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Itochu (OTCMKTS:ITOCY) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $24.75 billion during the quarter, compared to analyst estimates of $22.01 billion. As a group, analysts predict that Itochu Corp. will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Itochu

Several hedge funds have recently bought and sold shares of ITOCY. Aristotle Capital Management LLC increased its holdings in shares of Itochu by 897.0% during the 1st quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock valued at $1,468,000 after purchasing an additional 105,505 shares in the last quarter. Confluence Investment Management LLC increased its holdings in Itochu by 1.1% in the second quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock valued at $1,175,000 after buying an additional 1,159 shares in the last quarter. OLD National Bancorp IN increased its holdings in Itochu by 898.1% in the first quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after buying an additional 13,993 shares in the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Itochu in the fourth quarter worth about $279,000. Hedge funds and other institutional investors own 0.08% of the company’s stock.

About Itochu

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.