Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Up 9.9% Following Better-Than-Expected Earnings

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF – Get Free Report) shares traded up 9.9% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $25.85 and last traded at $25.50. Approximately 1,400 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 31,017 shares. The stock had previously closed at $23.20.

The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Mitsubishi Heavy Industries had a net margin of 5.89% and a return on equity of 11.74%.

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Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mitsubishi Heavy Industries stock. McMillan Office Inc. purchased a new stake in Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $28,000.

Mitsubishi Heavy Industries Price Performance

The company has a fifty day simple moving average of $23.47 and a 200-day simple moving average of $27.54. The company has a market cap of $86.03 billion, a P/E ratio of 39.23 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.28 and a quick ratio of 1.03.

About Mitsubishi Heavy Industries

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Mitsubishi Heavy Industries is a diversified Japanese industrial conglomerate engaged in the design, manufacture and servicing of large-scale capital equipment and systems. The company’s activities span shipbuilding and marine propulsion; power and energy systems including gas turbines, boilers and related power-plant equipment; and industrial machinery for sectors ranging from chemicals and manufacturing to environmental control. MHI also supplies heating, ventilation and air-conditioning systems and other building-related equipment for commercial and industrial customers.

In addition to its heavy engineering businesses, Mitsubishi Heavy Industries is a major participant in aerospace, space and defense markets.

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