Ituran Location and Control (NASDAQ:ITRN) Trading 4.3% Higher After Strong Earnings

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s stock price shot up 4.3% during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $29.14 and last traded at $29.06. 47,249 shares were traded during trading, a decline of 10% from the average session volume of 52,653 shares. The stock had previously closed at $27.87.

The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. The business had revenue of $84.87 million during the quarter. Ituran Location and Control had a return on equity of 28.58% and a net margin of 15.30%.

Ituran Location and Control Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Thursday, September 26th. Ituran Location and Control’s payout ratio is 62.40%.

Institutional Trading of Ituran Location and Control

Several large investors have recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its position in Ituran Location and Control by 149.9% during the fourth quarter. New York State Common Retirement Fund now owns 5,979 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 3,586 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ituran Location and Control by 90.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,324 shares of the industrial products company’s stock worth $200,000 after buying an additional 3,479 shares during the period. Blair William & Co. IL acquired a new position in Ituran Location and Control in the 1st quarter valued at $203,000. Bryn Mawr Capital Management LLC acquired a new position in Ituran Location and Control in the 4th quarter valued at $204,000. Finally, Semanteon Capital Management LP bought a new position in Ituran Location and Control in the 4th quarter worth $217,000. Institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Stock Performance

The stock’s 50-day simple moving average is $25.78 and its two-hundred day simple moving average is $26.41. The stock has a market cap of $568.97 million, a price-to-earnings ratio of 11.44 and a beta of 1.16.

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.