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

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) reached a new 52-week high during trading on Thursday . The stock 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 Trading Up 4.0 %

The firm’s 50-day moving average price is $29.26 and its 200 day moving average price is $27.48. The company has a market capitalization of $651.13 million, a price-to-earnings ratio of 12.54 and a beta of 1.15.

Ituran Location and Control Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Monday, December 23rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date is Monday, December 23rd. Ituran Location and Control’s dividend payout ratio is presently 59.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ITRN. Acadian Asset Management LLC lifted its stake in Ituran Location and Control by 21.3% in the 2nd quarter. Acadian Asset Management LLC now owns 483,763 shares of the industrial products company’s stock valued at $11,884,000 after purchasing an additional 85,023 shares during the last quarter. Caprock Group LLC acquired a new position in Ituran Location and Control in the 2nd quarter worth about $226,000. LSV Asset Management raised its position in Ituran Location and Control by 53.9% in the second quarter. LSV Asset Management now owns 48,171 shares of the industrial products company’s stock valued at $1,187,000 after purchasing an additional 16,871 shares during the last quarter. Rice Hall James & Associates LLC raised its position in Ituran Location and Control by 8.2% in the second quarter. Rice Hall James & Associates LLC now owns 444,043 shares of the industrial products company’s stock valued at $10,941,000 after purchasing an additional 33,593 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Ituran Location and Control by 27.6% during the second quarter. Blair William & Co. IL now owns 9,250 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.

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.