Itochu (OTCMKTS:ITOCY) Hits New 52-Week High – Here’s Why
by Sarita Garza · The Markets DailyItochu Corp. (OTCMKTS:ITOCY – Get Free Report)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $14.29 and last traded at $13.29, with a volume of 20360 shares. The stock had previously closed at $13.39.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Itochu in a research report on Tuesday, January 6th. They issued a “buy” rating on the stock. Zacks Research raised Itochu to a “hold” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.
Check Out Our Latest Stock Report on Itochu
Itochu Stock Down 0.1%
The company has a market capitalization of $105.95 billion, a PE ratio of 14.22 and a beta of 0.69. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.30 and a quick ratio of 0.96. The business’s 50 day simple moving average is $70.06 and its 200 day simple moving average is $98.57.
Institutional Investors Weigh In On Itochu
A number of institutional investors and hedge funds have recently modified their holdings of the company. OLD National Bancorp IN bought a new position in shares of Itochu during the fourth quarter worth about $201,000. Confluence Investment Management LLC grew its stake in Itochu by 4.8% during the 4th quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock valued at $1,243,000 after acquiring an additional 446 shares in the last quarter. GAMMA Investing LLC lifted its stake in Itochu by 21.8% in the fourth quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $364,000 after acquiring an additional 516 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of Itochu by 1,370.6% in the third quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in Itochu by 38.0% during 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. 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.