Itochu (OTCMKTS:ITOCY) Hits New 52-Week High – Should You Buy?

Shares of Itochu Corp. (OTCMKTS:ITOCY) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $15.44 and last traded at $15.15, with a volume of 7569 shares trading hands. The stock had previously closed at $15.05.

Itochu Stock Up 0.6%

The stock has a 50-day moving average of $12.77 and a 200-day moving average of $12.56. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.02. The firm has a market cap of $120.00 billion, a price-to-earnings ratio of 16.28 and a beta of 0.63.

Itochu (OTCMKTS:ITOCY) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Sell-side analysts predict that Itochu Corp. will post 0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Itochu

Several hedge funds have recently bought and sold shares of the company. Atlas Capital Advisors Inc. bought a new position in Itochu in the fourth quarter valued at approximately $279,000. Aristotle Capital Management LLC bought a new stake in shares of Itochu during the fourth quarter worth about $1,487,000. OLD National Bancorp IN increased its position in Itochu by 898.1% in the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after acquiring an additional 13,993 shares during the period. Finally, 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 purchasing an additional 1,159 shares during the period. 0.08% of the stock is owned by institutional investors.

About Itochu

Itochu Corporation is a diversified Japanese general trading company, or sogo shosha, that develops and manages businesses across multiple industries. The company is involved in the sourcing, distribution, financing and investment of products and services through global supply chains.

Its principal business areas include textiles; metals and minerals; food; machinery; energy and chemicals; general products and real estate; and information, communications and financial services. Its activities range from apparel and food distribution to infrastructure, industrial equipment, natural resources, consumer products, logistics, information technology and financial solutions.

Founded in 1858 by Chubei Itoh as a textile-trading business, Itochu has expanded into an international enterprise with operations and business partners in Japan and markets throughout Asia, North America, Europe and other regions.