Itochu (OTCMKTS:ITOCY) Sets New 52-Week High – Time to Buy?

Itochu Corp. (OTCMKTS:ITOCY) shares hit a new 52-week high during trading on Monday . The stock traded as high as $127.00 and last traded at $127.00, with a volume of 3892 shares. The stock had previously closed at $12.6520.

Itochu Trading Up 915.3%

The stock has a market cap of $92.43 billion, a price-to-earnings ratio of 13.80 and a beta of 0.69. The business’s fifty day simple moving average is $120.64 and its 200 day simple moving average is $113.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.30 and a quick ratio of 0.96.

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

Institutional Investors Weigh In On Itochu

Hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC increased its holdings 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 during the period. First Horizon Advisors Inc. increased its stake in shares of Itochu by 38.0% in the second 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. GAMMA Investing LLC raised its holdings in shares of Itochu by 79.0% during the second quarter. GAMMA Investing LLC now owns 1,944 shares of the company’s stock valued at $204,000 after buying an additional 858 shares during the last quarter. Finally, Confluence Investment Management LLC grew its holdings in Itochu by 1.4% in the 2nd quarter. Confluence Investment Management LLC now owns 8,636 shares of the company’s stock worth $904,000 after buying an additional 120 shares in the last quarter. 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.