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

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

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

Hedge Funds Weigh In On Mitsubishi Heavy Industries

An institutional investor recently bought a new position in Mitsubishi Heavy Industries stock. McMillan Office Inc. acquired a new position in Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,000 shares of the company’s stock, valued at approximately $28,000.

Mitsubishi Heavy Industries Stock Performance

The company has a fifty day moving average price of $23.47 and a two-hundred day moving average price of $27.54. The firm has a market cap of $86.03 billion, a price-to-earnings 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

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.