Ituran Location and Control (NASDAQ:ITRN) Sets New 12-Month High – Still a Buy?

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.09 and last traded at $33.06, with a volume of 38961 shares. The stock had previously closed at $32.59.

Ituran Location and Control Price Performance

The stock has a market cap of $658.16 million, a price-to-earnings ratio of 12.68 and a beta of 1.15. The company’s 50-day simple moving average is $30.17 and its 200-day simple moving average is $27.92.

Ituran Location and Control Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Monday, December 23rd. Ituran Location and Control’s dividend payout ratio is 59.77%.

Hedge Funds Weigh In On Ituran Location and Control

Institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC acquired a new position in shares of Ituran Location and Control in the third quarter worth about $767,000. Blue Trust Inc. lifted its position in shares of Ituran Location and Control by 63.4% in the 3rd quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 598 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Ituran Location and Control by 214.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 4,098 shares during the period. Walleye Capital LLC grew its position in Ituran Location and Control by 184.5% during the 3rd quarter. Walleye Capital LLC now owns 27,498 shares of the industrial products company’s stock worth $730,000 after purchasing an additional 17,834 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in Ituran Location and Control by 16.4% during the 3rd quarter. Rice Hall James & Associates LLC now owns 516,699 shares of the industrial products company’s stock valued at $13,713,000 after purchasing an additional 72,656 shares during the period. Hedge funds and other institutional investors own 94.80% of the company’s stock.

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.