Itochu (OTCMKTS:ITOCY) Reaches New 12-Month High – Should You Buy?

Itochu Corp. (OTCMKTS:ITOCY) shares reached a new 52-week high on Monday . The company traded as high as $128.65 and last traded at $128.00, with a volume of 2238 shares. The stock had previously closed at $122.1250.

Itochu Price Performance

The firm has a market capitalization of $92.38 billion, a price-to-earnings ratio of 13.79 and a beta of 0.71. The company has a quick ratio of 0.96, a current ratio of 1.30 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average is $119.29 and its two-hundred day moving average is $112.89.

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

Institutional Trading of Itochu

A number of institutional investors and hedge funds have recently modified their holdings of ITOCY. Salomon & Ludwin LLC raised its position in shares of Itochu by 1,370.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock valued at $29,000 after acquiring an additional 233 shares during the period. First Horizon Advisors Inc. raised its holdings in Itochu by 38.0% in the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock worth $48,000 after purchasing an additional 125 shares during the period. GAMMA Investing LLC raised its holdings in Itochu by 79.0% in the second quarter. GAMMA Investing LLC now owns 1,944 shares of the company’s stock worth $204,000 after purchasing an additional 858 shares during the period. Finally, Confluence Investment Management LLC boosted its position in shares of Itochu by 1.4% during the second quarter. Confluence Investment Management LLC now owns 8,636 shares of the company’s stock worth $904,000 after purchasing an additional 120 shares in 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.