Aristides Capital LLC Has $7.44 Million Stock Holdings in Ituran Location and Control Ltd. $ITRN

Key Points

• Aristides Capital LLC decreased its stake in Ituran Location and Control Ltd. by 11.8%, selling 27,586 shares, while maintaining a total of 205,604 shares, which represents 2.2% of its investment portfolio.
• Ituran recently missed earnings estimates for the quarter, reporting $0.67 EPS against a consensus estimate of $0.73, with revenue of $86.79 million compared to expectations of $89.17 million.
• The company declared a quarterly dividend of $0.50, with an annualized dividend yield of 5.5%, to be paid on October 10th to investors of record as of September 25th.

Aristides Capital LLC reduced its position in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 205,604 shares of the industrial products company's stock after selling 27,586 shares during the quarter. Ituran Location and Control comprises about 2.2% of Aristides Capital LLC's portfolio, making the stock its 7th largest position. Aristides Capital LLC owned about 1.03% of Ituran Location and Control worth $7,435,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in shares of Ituran Location and Control by 38.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 10,897 shares of the industrial products company's stock valued at $339,000 after purchasing an additional 3,053 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ituran Location and Control during the 4th quarter valued at approximately $2,718,000. Marshall Wace LLP grew its holdings in shares of Ituran Location and Control by 69.8% during the 4th quarter. Marshall Wace LLP now owns 19,614 shares of the industrial products company's stock valued at $611,000 after purchasing an additional 8,063 shares during the last quarter. State of Tennessee Department of Treasury grew its holdings in shares of Ituran Location and Control by 32.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 30,698 shares of the industrial products company's stock valued at $956,000 after purchasing an additional 7,555 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Ituran Location and Control by 152.4% during the 4th quarter. Northern Trust Corp now owns 41,749 shares of the industrial products company's stock valued at $1,300,000 after purchasing an additional 25,208 shares during the last quarter. 94.80% of the stock is owned by institutional investors.

Ituran Location and Control Stock Down 2.3%

ITRN traded down $0.79 during trading on Friday, hitting $33.72. 309,867 shares of the company's stock were exchanged, compared to its average volume of 136,473. The business's 50 day moving average is $38.93 and its two-hundred day moving average is $37.44. The stock has a market cap of $670.69 million, a P/E ratio of 12.09 and a beta of 0.89. Ituran Location and Control Ltd. has a fifty-two week low of $25.86 and a fifty-two week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last announced its earnings results on Tuesday, August 19th. The industrial products company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). The firm had revenue of $86.79 million during the quarter, compared to analysts' expectations of $89.17 million. Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%.

Ituran Location and Control Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Thursday, September 25th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Thursday, September 25th. Ituran Location and Control's dividend payout ratio (DPR) is currently 71.68%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Ituran Location and Control from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $50.00.

Ituran Location and Control 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.