Itochu (OTCMKTS:ITOCY) Sees Strong Trading Volume – Still a Buy?

Shares of Itochu Corp. (OTCMKTS:ITOCY) saw strong trading volume on Tuesday . 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 Stock Up 2.0%

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.32 and a quick ratio of 0.99. The stock has a market capitalization of $99.84 billion, a P/E ratio of 14.16 and a beta of 0.63. The firm has a 50-day simple moving average of $11.74 and a 200 day simple moving average of $12.58.

Itochu (OTCMKTS:ITOCY) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The firm had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $22.01 billion. On average, equities research analysts forecast that Itochu Corp. will post 0.86 EPS for the current year.

Institutional Investors Weigh In On Itochu

A number of institutional investors have recently added to or reduced their stakes in the business. OLD National Bancorp IN acquired a new position in Itochu in the 4th quarter valued at approximately $201,000. Atlas Capital Advisors Inc. acquired a new position in shares of Itochu during the fourth quarter worth $279,000. Aristotle Capital Management LLC acquired a new position in shares of Itochu during the fourth quarter worth $1,487,000. Finally, Confluence Investment Management LLC grew its stake in shares of Itochu by 1.1% in the second quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock worth $1,175,000 after purchasing an additional 1,159 shares during the last quarter. 0.08% of the stock is 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.