Ituran Location and Control Ltd. (NASDAQ:ITRN) Short Interest Down 24.2% in September

Ituran Location and Control Ltd. (NASDAQ:ITRN) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 33,600 shares, a decline of 24.2% from the September 15th total of 44,300 shares. Based on an average trading volume of 77,300 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. LSV Asset Management acquired a new position in Ituran Location and Control during the first quarter worth approximately $875,000. Acadian Asset Management LLC lifted its stake 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 purchasing an additional 85,023 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Ituran Location and Control by 8.2% in the second quarter. Rice Hall James & Associates LLC now owns 444,043 shares of the industrial products company’s stock worth $10,941,000 after buying an additional 33,593 shares during the period. Aristides Capital LLC grew 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 buying an additional 33,958 shares in the last quarter. Finally, Blair William & Co. IL acquired a new stake in Ituran Location and Control in the first quarter valued at approximately $203,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Ituran Location and Control Stock Down 0.3 %

Shares of Ituran Location and Control stock traded down $0.08 on Tuesday, hitting $26.79. The company’s stock had a trading volume of 76,180 shares, compared to its average volume of 57,435. The firm has a fifty day moving average price of $27.16 and a 200-day moving average price of $26.57. Ituran Location and Control has a 52-week low of $24.01 and a 52-week high of $30.00. The company has a market capitalization of $532.96 million, a P/E ratio of 10.71 and a beta of 1.14.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Monday, August 19th. The industrial products company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $84.87 million for the quarter. Ituran Location and Control had a return on equity of 28.43% and a net margin of 15.42%.

Ituran Location and Control Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Thursday, September 26th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.56 annualized dividend and a yield of 5.82%. Ituran Location and Control’s dividend payout ratio (DPR) is presently 62.40%.

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.