Makita (OTCMKTS:MKTAY) Sees Large Volume Increase – Time to Buy?

Makita Corp. (OTCMKTS:MKTAY) saw unusually-strong trading volume on Wednesday . Approximately 74,519 shares changed hands during mid-day trading, an increase of 303% from the previous session’s volume of 18,476 shares.The stock last traded at $32.58 and had previously closed at $32.61.

Makita Stock Down 0.4%

The company has a 50-day moving average of $34.91 and a 200 day moving average of $35.36. The firm has a market capitalization of $8.59 billion, a PE ratio of 15.85 and a beta of 0.61.

Makita (OTCMKTS:MKTAY) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Makita had a net margin of 10.40% and a return on equity of 8.21%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.26 billion.

Makita Company Profile

Makita Corporation (OTCMKTS:MKTAY) is a global manufacturer of professional and consumer power tools headquartered in Anjō, Aichi Prefecture, Japan. Founded in 1915 as an electric motor sales and repair company, it incorporated as Makita Electric Works, Ltd. in 1958 and has since expanded its product portfolio to serve both industrial and residential markets. The company’s core business activities encompass the design, production and distribution of power tools, outdoor power equipment and accessories.

Makita’s product lineup includes cordless and corded electric drills, drivers, saws, grinders, sanders and rotary hammers, as well as pneumatic and gasoline-powered machinery.