Ituran Location and Control (NASDAQ:ITRN) Sees Large Volume Increase – What’s Next?

Ituran Location and Control Ltd. (NASDAQ:ITRN) shares saw unusually-strong trading volume on Tuesday . Approximately 672,124 shares changed hands during mid-day trading, an increase of 565% from the previous session’s volume of 101,006 shares.The stock last traded at $41.20 and had previously closed at $35.58.

Ituran Location and Control Price Performance

The firm has a market capitalization of $824.01 million, a price-to-earnings ratio of 15.87 and a beta of 1.15. The business’s fifty day simple moving average is $32.29 and its 200 day simple moving average is $29.25.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $0.69 EPS for the quarter. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%.

Ituran Location and Control Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Monday, December 23rd. Ituran Location and Control’s dividend payout ratio is currently 59.77%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in shares of Ituran Location and Control by 63.4% during the third quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 598 shares in the last quarter. Copeland Capital Management LLC bought a new position in shares of Ituran Location and Control during the third quarter valued at about $50,000. Foundations Investment Advisors LLC bought a new position in shares of Ituran Location and Control during the third quarter valued at about $228,000. Semanteon Capital Management LP bought a new position in shares of Ituran Location and Control during the third quarter valued at about $225,000. Finally, Meitav Investment House Ltd. bought a new position in shares of Ituran Location and Control during the third quarter valued at about $250,000. 94.80% of the stock is currently 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.