Ituran Location and Control Ltd. Announces Quarterly Dividend of $0.50 (NASDAQ:ITRN)

Ituran Location and Control Ltd. (NASDAQ:ITRN) announced a quarterly dividend on Tuesday, November 18th. Investors of record on Monday, December 29th will be given a dividend of 0.50 per share by the industrial products company on Thursday, January 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, December 29th.

Ituran Location and Control has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Ituran Location and Control has a payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings.

Ituran Location and Control Trading Down 0.6%

Shares of Ituran Location and Control stock traded down $0.23 on Tuesday, reaching $36.70. The stock had a trading volume of 161,380 shares, compared to its average volume of 123,868. The business’s 50 day moving average is $36.67 and its two-hundred day moving average is $37.41. The company has a market cap of $729.96 million, a P/E ratio of 13.15 and a beta of 0.88. Ituran Location and Control has a 1 year low of $26.68 and a 1 year high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. The firm had revenue of $92.28 million for the quarter, compared to analysts’ expectations of $86.52 million. Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its position 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 valued at $28,097,000 after buying an additional 113,594 shares in the last quarter. CSM Advisors LLC bought a new stake in shares of Ituran Location and Control in the second quarter worth about $3,731,000. Man Group plc raised its holdings in shares of Ituran Location and Control by 90.8% during the 2nd quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock worth $5,331,000 after acquiring an additional 65,502 shares in the last quarter. ARK Investment Management LLC purchased a new stake in Ituran Location and Control during the first quarter valued at $2,131,000. Finally, GW&K Investment Management LLC bought a new stake in Ituran Location and Control during the third quarter worth approximately $1,911,000. 94.80% of the stock is currently owned by 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.