Ituran Location and Control (NASDAQ:ITRN) Reaches New 1-Year High – Here’s What Happened

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $31.32 and last traded at $31.25, with a volume of 50400 shares changing hands. The stock had previously closed at $30.50.

Ituran Location and Control Stock Performance

The stock has a market capitalization of $621.56 million, a price-to-earnings ratio of 11.69 and a beta of 1.17. The business’s 50 day simple moving average is $27.58 and its 200-day simple moving average is $26.90.

Ituran Location and Control Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd will be given 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 dividend yield of 4.99%. Ituran Location and Control’s dividend payout ratio is presently 59.77%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Barclays PLC increased its stake in shares of Ituran Location and Control by 132.1% during the third quarter. Barclays PLC now owns 7,731 shares of the industrial products company’s stock valued at $206,000 after acquiring an additional 4,400 shares during the period. Public Employees Retirement System of Ohio bought a new position in Ituran Location and Control during the 3rd quarter valued at $137,000. XTX Topco Ltd raised its stake in shares of Ituran Location and Control by 145.0% in the 3rd quarter. XTX Topco Ltd now owns 20,150 shares of the industrial products company’s stock worth $535,000 after buying an additional 11,927 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Ituran Location and Control in the third quarter valued at $767,000. Finally, Walleye Capital LLC lifted its holdings in shares of Ituran Location and Control by 184.5% in the third quarter. Walleye Capital LLC now owns 27,498 shares of the industrial products company’s stock valued at $730,000 after buying an additional 17,834 shares during the period. 94.80% of the stock is owned by institutional investors and hedge funds.

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.