Ituran Location and Control (NASDAQ:ITRN) Shares Up 4.2% – Here’s Why

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s stock price traded up 4.2% during trading on Tuesday . The stock traded as high as $31.12 and last traded at $31.11. 75,137 shares were traded during trading, an increase of 27% from the average session volume of 59,157 shares. The stock had previously closed at $29.85.

Ituran Location and Control Stock Performance

The firm’s 50-day simple moving average is $28.92 and its 200-day simple moving average is $27.35. The company has a market capitalization of $619.70 million, a price-to-earnings ratio of 11.93 and a beta of 1.17.

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Monday, December 23rd. Ituran Location and Control’s payout ratio is 59.77%.

Hedge Funds Weigh In On Ituran Location and Control

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rice Hall James & Associates LLC increased its position in shares of Ituran Location and Control by 16.4% during the 3rd quarter. Rice Hall James & Associates LLC now owns 516,699 shares of the industrial products company’s stock worth $13,713,000 after purchasing an additional 72,656 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Ituran Location and Control by 21.3% during the second quarter. Acadian Asset Management LLC now owns 483,763 shares of the industrial products company’s stock worth $11,884,000 after buying an additional 85,023 shares in the last quarter. Aristides Capital LLC raised its stake in shares of Ituran Location and Control by 23.3% in the second quarter. Aristides Capital LLC now owns 179,740 shares of the industrial products company’s stock valued at $4,429,000 after acquiring an additional 33,958 shares during the last quarter. Inlet Private Wealth LLC boosted its holdings in shares of Ituran Location and Control by 5.8% in the 3rd quarter. Inlet Private Wealth LLC now owns 150,200 shares of the industrial products company’s stock worth $3,986,000 after acquiring an additional 8,300 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in Ituran Location and Control by 43.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 84,600 shares of the industrial products company’s stock worth $2,245,000 after acquiring an additional 25,700 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.

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.