Itochu (OTCMKTS:ITOCY) Sees Large Volume Increase – Here’s Why

Itochu Corp. (OTCMKTS:ITOCY) shares saw unusually-high trading volume on Friday . Approximately 370,101 shares changed hands during trading, an increase of 24% from the previous session’s volume of 299,010 shares.The stock last traded at $13.28 and had previously closed at $13.10.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ITOCY. The Goldman Sachs Group assumed coverage on Itochu in a research note on Tuesday, January 6th. They set a “buy” rating for the company. Zacks Research upgraded Itochu to a “hold” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Itochu currently has a consensus rating of “Moderate Buy”.

Itochu Stock Performance

The stock has a market cap of $93.54 billion, a price-to-earnings ratio of 14.16 and a beta of 0.69. The firm’s 50-day moving average is $101.96 and its two-hundred day moving average is $108.16. The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41.

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

Institutional Investors Weigh In On Itochu

Large investors have recently modified their holdings of the business. Confluence Investment Management LLC lifted its stake in shares of Itochu by 4.8% in the fourth quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock worth $1,243,000 after buying an additional 446 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Itochu by 21.8% during the 4th quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $364,000 after purchasing an additional 516 shares during the last quarter. First Horizon Advisors Inc. grew its position 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 in the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in shares of Itochu by 1,370.6% in the third quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock valued at $29,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other 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.