Ituran Location and Control Ltd. (ITRN) To Go Ex-Dividend on September 25th

Ituran Location and Control Ltd. (NASDAQ:ITRN) declared a quarterly dividend on Tuesday, August 19th, RTT News reports. Investors of record on Thursday, September 25th will be given a dividend of 0.50 per share by the industrial products company on Friday, October 10th. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Thursday, September 25th.

Ituran Location and Control has a dividend payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings.

Ituran Location and Control Stock Performance

Shares of NASDAQ:ITRN opened at $35.61 on Tuesday. The company has a market cap of $708.28 million, a P/E ratio of 12.76 and a beta of 0.87. Ituran Location and Control has a one year low of $25.86 and a one year high of $45.43. The business’s 50-day simple moving average is $37.73 and its 200 day simple moving average is $36.88.

Ituran Location and Control (NASDAQ:ITRN) last announced its earnings results on Tuesday, August 19th. The industrial products company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.06). Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%. The firm had revenue of $86.79 million during the quarter, compared to analysts’ expectations of $89.17 million.

Hedge Funds Weigh In On Ituran Location and Control

A number of large investors have recently made changes to their positions in the business. Ibex Investors LLC grew its position in Ituran Location and Control by 1.8% during the first quarter. Ibex Investors LLC now owns 876,313 shares of the industrial products company’s stock valued at $31,687,000 after purchasing an additional 15,267 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Ituran Location and Control by 18.5% during the 2nd quarter. Acadian Asset Management LLC now owns 726,519 shares of the industrial products company’s stock worth $28,097,000 after purchasing an additional 113,594 shares in the last quarter. Aristides Capital LLC grew its holdings in Ituran Location and Control by 11.9% during the second quarter. Aristides Capital LLC now owns 229,974 shares of the industrial products company’s stock valued at $8,907,000 after purchasing an additional 24,370 shares during the last quarter. Millennium Management LLC grew its stake in Ituran Location and Control by 8.8% in the 4th quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company’s stock valued at $7,119,000 after buying an additional 18,563 shares during the last quarter. Finally, Inflection Point Investments LLP raised its holdings in Ituran Location and Control by 1.0% in the 2nd quarter. Inflection Point Investments LLP now owns 197,997 shares of the industrial products company’s stock worth $7,591,000 after acquiring an additional 2,000 shares during the period. Institutional investors and hedge funds own 94.80% of the company’s stock.

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.