Itochu (OTCMKTS:ITOCY) Stock Passes Above 50-Day Moving Average – Here’s What Happened

Itochu Corp. (OTCMKTS:ITOCY)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.74 and traded as high as $12.06. Itochu shares last traded at $11.98, with a volume of 566,744 shares.

Itochu Trading Up 0.8%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.32. The firm has a fifty day moving average price of $11.74 and a 200 day moving average price of $13.41. The company has a market cap of $94.93 billion, a price-to-earnings ratio of 13.46 and a beta of 0.64.

Itochu (OTCMKTS:ITOCY) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $24.49 billion for the quarter, compared to the consensus estimate of $28.52 billion. As a group, equities analysts predict that Itochu Corp. will post 0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Itochu

Several hedge funds have recently bought and sold shares of ITOCY. OLD National Bancorp IN raised its stake in Itochu by 898.1% in the first quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after buying an additional 13,993 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of Itochu during the 4th quarter worth approximately $279,000. Confluence Investment Management LLC increased its holdings in shares of Itochu by 1.1% during the 2nd quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock worth $1,175,000 after acquiring an additional 1,159 shares during the last quarter. Finally, Aristotle Capital Management LLC increased its holdings in shares of Itochu by 897.0% during the 1st quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock worth $1,468,000 after acquiring an additional 105,505 shares during the last quarter. 0.08% of the stock is currently owned by institutional investors and hedge funds.

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.