Schulhoff & Co. Inc. Makes New $243,000 Investment in Ituran Location and Control Ltd. $ITRN

Schulhoff & Co. Inc. acquired a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 6,275 shares of the industrial products company’s stock, valued at approximately $243,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LMG Wealth Partners LLC boosted its stake in shares of Ituran Location and Control by 10.3% during the second quarter. LMG Wealth Partners LLC now owns 34,962 shares of the industrial products company’s stock valued at $1,354,000 after purchasing an additional 3,275 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in shares of Ituran Location and Control during the second quarter valued at $293,000. Ritholtz Wealth Management boosted its stake in shares of Ituran Location and Control by 119.7% during the second quarter. Ritholtz Wealth Management now owns 18,905 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 10,300 shares during the period. Inflection Point Investments LLP boosted its stake in shares of Ituran Location and Control by 1.0% during the second quarter. Inflection Point Investments LLP now owns 197,997 shares of the industrial products company’s stock valued at $7,591,000 after purchasing an additional 2,000 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Ituran Location and Control by 5.0% during the second quarter. KLP Kapitalforvaltning AS now owns 36,000 shares of the industrial products company’s stock valued at $1,408,000 after purchasing an additional 1,700 shares during the period. 94.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ITRN shares. Wall Street Zen raised shares of Ituran Location and Control from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Ituran Location and Control in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $50.00.

Ituran Location and Control Price Performance

ITRN stock opened at $37.37 on Wednesday. The business has a 50-day moving average price of $36.04 and a 200 day moving average price of $36.78. The company has a market capitalization of $737.06 million, a P/E ratio of 13.39 and a beta of 0.87. Ituran Location and Control Ltd. has a 1-year low of $26.46 and a 1-year high of $45.43.

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

Ituran Location and Control Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, September 25th were issued a $0.50 dividend. The ex-dividend date was Thursday, September 25th. This represents a $2.00 dividend on an annualized basis and a yield of 5.4%. Ituran Location and Control’s payout ratio is currently 71.68%.

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.