Ituran Location and Control (NASDAQ:ITRN) Shares Gap Down to $27.31

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) gapped down before the market opened on Friday . The stock had previously closed at $27.31, but opened at $26.50. Ituran Location and Control shares last traded at $26.42, with a volume of 25,328 shares traded.

Ituran Location and Control Stock Down 2.5 %

The firm has a market cap of $529.58 million, a P/E ratio of 10.92 and a beta of 1.15. The business’s 50 day moving average is $27.01 and its 200-day moving average is $26.72.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Monday, August 19th. The industrial products company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. The company had revenue of $84.87 million during the quarter. Ituran Location and Control had a net margin of 15.42% and a return on equity of 28.43%.

Ituran Location and Control Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.86%. The ex-dividend date of this dividend is Thursday, September 26th. Ituran Location and Control’s payout ratio is currently 62.40%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ITRN. Acadian Asset Management LLC boosted its holdings in shares of Ituran Location and Control by 21.3% in the 2nd quarter. Acadian Asset Management LLC now owns 483,763 shares of the industrial products company’s stock valued at $11,884,000 after buying an additional 85,023 shares during the period. Aristides Capital LLC boosted its stake in 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 period. Rice Hall James & Associates LLC grew its holdings in shares of Ituran Location and Control by 8.2% during the second quarter. Rice Hall James & Associates LLC now owns 444,043 shares of the industrial products company’s stock valued at $10,941,000 after purchasing an additional 33,593 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Ituran Location and Control during the 1st quarter worth approximately $875,000. Finally, Strategic Global Advisors LLC lifted its holdings in shares of Ituran Location and Control by 37.6% in the 4th quarter. Strategic Global Advisors LLC now owns 78,394 shares of the industrial products company’s stock worth $2,135,000 after purchasing an additional 21,424 shares during the last quarter. Institutional investors and hedge funds 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.