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

Shares of Itochu Corp. (OTCMKTS:ITOCY) saw unusually-strong trading volume on Tuesday . 817,988 shares changed hands 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 current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average price is $11.74 and its 200-day moving average price is $12.58. The company has a market cap of $99.84 billion, a P/E ratio of 14.16 and a beta of 0.63.

Itochu (OTCMKTS:ITOCY) last issued its 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 company had revenue of $24.75 billion during the quarter, compared to analyst estimates of $22.01 billion. As a group, research analysts forecast that Itochu Corp. will post 0.86 EPS for the current year.

Institutional Investors Weigh In On Itochu

Several hedge funds and other institutional investors have recently modified their holdings of ITOCY. OLD National Bancorp IN acquired a new position in shares of Itochu during the fourth quarter worth approximately $201,000. Atlas Capital Advisors Inc. acquired a new stake in Itochu in the 4th quarter valued at $279,000. Aristotle Capital Management LLC bought a new stake in Itochu during the 4th quarter valued at $1,487,000. Finally, Confluence Investment Management LLC increased its stake in Itochu by 1.1% during the 2nd 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 in the last quarter. 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.