Itochu Corp. (OTCMKTS:ITOCY) Sees Significant Increase in Short Interest

Itochu Corp. (OTCMKTS:ITOCY) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 346,661 shares, an increase of 103.7% from the August 15th total of 170,213 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 690,273 shares, the days-to-cover ratio is presently 0.5 days.

Itochu Stock Up 0.5%

Shares of ITOCY traded up $0.08 during mid-day trading on Wednesday, hitting $15.07. 52,161 shares of the company’s stock were exchanged, compared to its average volume of 466,733. The company has a market cap of $119.42 billion, a price-to-earnings ratio of 16.20 and a beta of 0.63. Itochu has a fifty-two week low of $10.75 and a fifty-two week high of $15.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.02 and a current ratio of 1.35. The stock’s 50-day moving average is $12.90 and its 200-day moving average is $12.57.

Itochu (OTCMKTS:ITOCY) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The company had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $22.01 billion. On average, sell-side analysts anticipate that Itochu will post 0.92 earnings per share for the current fiscal year.

Institutional Trading of Itochu

A number of large investors have recently modified their holdings of ITOCY. Aristotle Capital Management LLC boosted its holdings in Itochu by 897.0% in the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock valued at $1,468,000 after purchasing an additional 105,505 shares during the period. Confluence Investment Management LLC increased its holdings in 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 purchasing an additional 1,159 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in Itochu during the 4th quarter worth about $279,000. Finally, OLD National Bancorp IN raised its position in Itochu by 898.1% in the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after purchasing an additional 13,993 shares in the last quarter. Hedge funds and other institutional investors own 0.08% of the company’s stock.

About Itochu

Itochu Corporation is a diversified Japanese general trading company, or sogo shosha, that develops and manages businesses across multiple industries. The company is involved in the sourcing, distribution, financing and investment of products and services through global supply chains.

Its principal business areas include textiles; metals and minerals; food; machinery; energy and chemicals; general products and real estate; and information, communications and financial services. Its activities range from apparel and food distribution to infrastructure, industrial equipment, natural resources, consumer products, logistics, information technology and financial solutions.

Founded in 1858 by Chubei Itoh as a textile-trading business, Itochu has expanded into an international enterprise with operations and business partners in Japan and markets throughout Asia, North America, Europe and other regions.