Rice Hall James & Associates LLC Sells 17,635 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

Rice Hall James & Associates LLC lowered its position in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 3.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 489,917 shares of the industrial products company's stock after selling 17,635 shares during the period. Ituran Location and Control accounts for approximately 1.0% of Rice Hall James & Associates LLC's portfolio, making the stock its 26th largest position. Rice Hall James & Associates LLC owned 2.46% of Ituran Location and Control worth $17,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position in shares of Ituran Location and Control by 26.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company's stock worth $8,553,000 after buying an additional 56,956 shares during the period. Aristides Capital LLC lifted its position in shares of Ituran Location and Control by 26.5% during the 4th quarter. Aristides Capital LLC now owns 233,190 shares of the industrial products company's stock valued at $7,264,000 after acquiring an additional 48,850 shares during the period. Millennium Management LLC lifted its position in shares of Ituran Location and Control by 8.8% during the 4th quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company's stock valued at $7,119,000 after acquiring an additional 18,563 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Ituran Location and Control during the 4th quarter valued at $2,718,000. Finally, Alliancebernstein L.P. acquired a new position in shares of Ituran Location and Control during the 4th quarter valued at $2,329,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th.

Ituran Location and Control Price Performance

Shares of Ituran Location and Control stock traded up $0.37 during trading on Thursday, reaching $38.90. 46,513 shares of the company traded hands, compared to its average volume of 108,006. Ituran Location and Control Ltd. has a 1-year low of $25.09 and a 1-year high of $45.43. The company has a 50 day moving average price of $37.71 and a 200-day moving average price of $36.10. The firm has a market capitalization of $773.72 million, a PE ratio of 13.99 and a beta of 0.82.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last released its earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Ituran Location and Control had a net margin of 16.35% and a return on equity of 29.19%. The company had revenue of $86.46 million for the quarter, compared to the consensus estimate of $88.47 million.

Ituran Location and Control Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $2.00 dividend on an annualized basis and a yield of 5.14%. Ituran Location and Control's dividend payout ratio (DPR) is presently 71.94%.

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.