Ituran Location and Control (NASDAQ:ITRN) Hits New 12-Month High – Here’s Why

Ituran Location and Control Ltd. (NASDAQ:ITRN) reached a new 52-week high during trading on Friday . The company traded as high as $30.74 and last traded at $30.66, with a volume of 9356 shares traded. The stock had previously closed at $29.80.

Ituran Location and Control Trading Up 3.6 %

The company’s 50 day moving average is $27.25 and its 200-day moving average is $26.82. The stock has a market cap of $614.20 million, a PE ratio of 11.42 and a beta of 1.14.

Ituran Location and Control Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Monday, December 23rd. Ituran Location and Control’s payout ratio is currently 59.77%.

Hedge Funds Weigh In On Ituran Location and Control

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its stake in Ituran Location and Control by 63.4% during the third quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 598 shares during the period. Heron Bay Capital Management grew its holdings in Ituran Location and Control by 6.2% in the 2nd quarter. Heron Bay Capital Management now owns 10,604 shares of the industrial products company’s stock worth $261,000 after buying an additional 622 shares in the last quarter. Pzena Investment Management LLC raised its stake in Ituran Location and Control by 3.4% during the 2nd quarter. Pzena Investment Management LLC now owns 22,659 shares of the industrial products company’s stock valued at $558,000 after acquiring an additional 752 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Ituran Location and Control by 11.3% during the first quarter. California State Teachers Retirement System now owns 16,585 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 1,679 shares in the last quarter. Finally, Delphi Management Inc. MA raised its position in shares of Ituran Location and Control by 2.9% during the 2nd quarter. Delphi Management Inc. MA now owns 63,522 shares of the industrial products company’s stock worth $1,565,000 after buying an additional 1,816 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Ituran Location and Control Company Profile

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.