Itochu (OTCMKTS:ITOCY) Hits New 52-Week High – Still a Buy?

Itochu Corp. (OTCMKTS:ITOCY)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $128.65 and last traded at $128.00, with a volume of 2238 shares changing hands. The stock had previously closed at $122.1250.

Itochu Stock Down 0.2%

The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. The business’s fifty day moving average price is $119.88 and its 200 day moving average price is $113.25. The company has a market capitalization of $92.43 billion, a P/E ratio of 13.80 and a beta of 0.71.

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 the consensus estimate of $2.18 by ($0.10). The company had revenue of $24.06 billion for the quarter, compared to analysts’ expectations of $24.65 billion.

Institutional Trading of Itochu

Several institutional investors have recently bought and sold shares of the stock. Confluence Investment Management LLC grew its position in Itochu by 1.4% in the second quarter. Confluence Investment Management LLC now owns 8,636 shares of the company’s stock valued at $904,000 after acquiring an additional 120 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Itochu by 38.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock valued at $48,000 after purchasing an additional 125 shares in the last quarter. Salomon & Ludwin LLC grew 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 purchasing an additional 233 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Itochu by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock worth $272,000 after purchasing an additional 421 shares in the last quarter. Institutional investors and hedge funds own 0.08% of the company’s stock.

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.