Itochu (OTCMKTS:ITOCY) Stock Passes Above Fifty Day Moving Average – Here’s Why

Itochu Corp. (OTCMKTS:ITOCY)’s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty 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 changing hands.

Itochu Price Performance

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

Itochu (OTCMKTS:ITOCY) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $24.49 billion during the quarter, compared to the consensus estimate of $28.52 billion. Equities analysts anticipate that Itochu Corp. will post 0.86 earnings per share for the current year.

Hedge Funds Weigh In On Itochu

Several hedge funds have recently made changes to their positions in ITOCY. OLD National Bancorp IN acquired a new stake in shares of Itochu in the fourth quarter valued at approximately $201,000. Atlas Capital Advisors Inc. acquired a new position in shares of Itochu during the 4th quarter worth about $279,000. Aristotle Capital Management LLC bought a new position in shares of Itochu in the 4th quarter valued at about $1,487,000. Finally, Confluence Investment Management LLC increased its position in shares of Itochu by 1.1% in the second quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock valued at $1,175,000 after acquiring an additional 1,159 shares during the last quarter. 0.08% of the stock is owned by institutional investors.

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.