Ituran Location and Control (NASDAQ:ITRN) Trading Up 4.2% – Should You Buy?

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

Ituran Location and Control Stock Up 1.3 %

The firm has a market cap of $627.46 million, a price-to-earnings ratio of 12.08 and a beta of 1.17. The company’s 50-day moving average price is $29.07 and its 200-day moving average price is $27.41.

Ituran Location and Control Announces Dividend

The company 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. The ex-dividend date is Monday, December 23rd. This represents a $1.56 annualized dividend and a dividend yield of 4.95%. Ituran Location and Control’s dividend payout ratio (DPR) is presently 59.77%.

Hedge Funds Weigh In On Ituran Location and Control

Hedge funds and other institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC raised its holdings in Ituran Location and Control by 3.4% in 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 during the last quarter. Acadian Asset Management LLC lifted its position in 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. Caprock Group LLC purchased a new position in Ituran Location and Control during the second quarter worth approximately $226,000. LSV Asset Management boosted its stake in Ituran Location and Control by 53.9% during the second quarter. LSV Asset Management now owns 48,171 shares of the industrial products company’s stock worth $1,187,000 after buying an additional 16,871 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its holdings in Ituran Location and Control by 8.2% in the 2nd quarter. Rice Hall James & Associates LLC now owns 444,043 shares of the industrial products company’s stock valued at $10,941,000 after buying an additional 33,593 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

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.