Pekin Hardy Strauss Inc. Sells 11,459 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

Pekin Hardy Strauss Inc. lowered its position in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 243,496 shares of the industrial products company’s stock after selling 11,459 shares during the quarter. Ituran Location and Control comprises approximately 0.9% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 24th largest holding. Pekin Hardy Strauss Inc. owned approximately 1.22% of Ituran Location and Control worth $6,633,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new stake in shares of Ituran Location and Control during the 3rd quarter worth $368,000. Meitav Investment House Ltd. raised its stake in shares of Ituran Location and Control by 50.6% during the third quarter. Meitav Investment House Ltd. now owns 66,595 shares of the industrial products company’s stock worth $1,998,000 after acquiring an additional 22,378 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of Ituran Location and Control in the 3rd quarter valued at $29,262,000. Inlet Private Wealth LLC bought a new position in shares of Ituran Location and Control during the 3rd quarter valued at $1,105,000. Finally, Teacher Retirement System of Texas purchased a new position in Ituran Location and Control in the 3rd quarter worth $390,000. Institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Price Performance

NASDAQ:ITRN traded down $0.66 during trading hours on Tuesday, hitting $25.68. The company had a trading volume of 31,564 shares, compared to its average volume of 54,011. The stock has a 50-day moving average price of $26.83 and a 200 day moving average price of $26.26. The company has a market capitalization of $510.78 million, a PE ratio of 10.98 and a beta of 1.17. Ituran Location and Control Ltd. has a 52 week low of $20.35 and a 52 week high of $31.01.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Thursday, February 29th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter. Ituran Location and Control had a return on equity of 28.61% and a net margin of 15.04%. The business had revenue of $77.81 million during the quarter.

Ituran Location and Control Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 20th were paid a dividend of $0.39 per share. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.07%. Ituran Location and Control’s payout ratio is 65.00%.

About Ituran Location and Control

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.