Itochu (OTCMKTS:ITOCY) Sets New 12-Month High - Here's What Happened

Key Points

• Itochu shares reached a new 52-week high, trading as high as $15.44 and last changing hands at $15.15, above the previous close of $15.05.
• The company reported quarterly revenue of $24.75 billion, exceeding estimates of $22.01 billion, while EPS of $0.26 narrowly missed the $0.27 consensus forecast.
• Several institutional investors increased their Itochu holdings, although institutional ownership remains limited at 0.08% of the company’s stock.

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

Itochu Price Performance

The business has a fifty day moving average of $12.77 and a two-hundred day moving average of $12.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.02 and a current ratio of 1.35. The firm has a market capitalization of $120.00 billion, a price-to-earnings ratio of 16.28 and a beta of 0.63.

Itochu (OTCMKTS:ITOCY - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $24.75 billion during the quarter, compared to analyst estimates of $22.01 billion. As a group, research analysts predict that Itochu Corp. will post 0.92 EPS for the current fiscal year.

Institutional Trading of Itochu

Several hedge funds and other institutional investors have recently modified their holdings of ITOCY. Aristotle Capital Management LLC grew its stake in Itochu by 897.0% in the 1st quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company's stock valued at $1,468,000 after buying an additional 105,505 shares during the last quarter. OLD National Bancorp IN lifted its position in Itochu by 898.1% during the first quarter. OLD National Bancorp IN now owns 15,551 shares of the company's stock worth $193,000 after acquiring an additional 13,993 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in Itochu in the 4th quarter valued at $279,000. Finally, Confluence Investment Management LLC grew its holdings in Itochu by 1.1% in the 2nd 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. Institutional investors own 0.08% of the company's stock.

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.

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