Ituran Location and Control (NASDAQ:ITRN) Reaches New 52-Week High – Time to Buy?

Ituran Location and Control Ltd. (NASDAQ:ITRN) shares reached a new 52-week high on Thursday . The company traded as high as $31.65 and last traded at $31.54, with a volume of 4605 shares changing hands. The stock had previously closed at $31.15.

Ituran Location and Control Stock Up 1.3 %

The company has a market capitalization of $627.46 million, a P/E ratio of 12.08 and a beta of 1.17. The business’s 50-day moving average is $29.07 and its two-hundred day moving average is $27.41.

Ituran Location and Control Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd will be paid a $0.39 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.95%. Ituran Location and Control’s payout ratio is presently 59.77%.

Institutional Trading of Ituran Location and Control

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its position in Ituran Location and Control by 63.4% in the third quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 598 shares during the last quarter. Heron Bay Capital Management boosted its holdings in shares of Ituran Location and Control by 6.2% in the 2nd quarter. Heron Bay Capital Management now owns 10,604 shares of the industrial products company’s stock worth $261,000 after buying an additional 622 shares during the last quarter. Pzena Investment Management LLC grew its position in Ituran Location and Control by 3.4% during the second quarter. Pzena Investment Management LLC now owns 22,659 shares of the industrial products company’s stock valued at $558,000 after buying an additional 752 shares during the period. Delphi Management Inc. MA increased its holdings in Ituran Location and Control by 2.9% during the second quarter. Delphi Management Inc. MA now owns 63,522 shares of the industrial products company’s stock worth $1,565,000 after buying an additional 1,816 shares during the last quarter. Finally, Copeland Capital Management LLC bought a new stake in Ituran Location and Control in the third quarter worth about $50,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

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.