Ituran Location and Control (NASDAQ:ITRN) Trading 4.2% Higher – Still a Buy?

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) rose 4.2% during trading on Tuesday . The stock traded as high as $31.12 and last traded at $31.11. Approximately 75,137 shares traded hands during mid-day 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 Performance

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

Ituran Location and Control Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position 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 purchasing an additional 598 shares during the period. Copeland Capital Management LLC acquired a new stake in shares of Ituran Location and Control in the third quarter worth $50,000. Public Employees Retirement System of Ohio bought a new stake in shares of Ituran Location and Control during the 3rd quarter worth $137,000. BNP Paribas Financial Markets grew its stake in Ituran Location and Control by 214.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock valued at $160,000 after buying an additional 4,098 shares during the last quarter. Finally, Barclays PLC raised its holdings in Ituran Location and Control by 132.1% in the 3rd quarter. Barclays PLC now owns 7,731 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 4,400 shares during the period. 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.