Spirepoint Private Client LLC Invests $297,000 in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Spirepoint Private Client LLC purchased a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,209 shares of the industrial products company's stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D purchased a new position in Ituran Location and Control during the fourth quarter valued at approximately $207,000. Atria Investments Inc purchased a new position in Ituran Location and Control during the fourth quarter valued at approximately $209,000. Seizert Capital Partners LLC increased its holdings in Ituran Location and Control by 32.3% during the fourth quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company's stock valued at $4,928,000 after buying an additional 38,652 shares during the period. Raymond James Financial Inc. purchased a new position in Ituran Location and Control during the fourth quarter valued at approximately $2,718,000. Finally, Inceptionr LLC purchased a new position in Ituran Location and Control during the fourth quarter valued at approximately $230,000. Institutional investors own 94.80% of the company's stock.

Ituran Location and Control Price Performance

NASDAQ ITRN traded up $0.10 on Friday, hitting $37.75. The stock had a trading volume of 63,162 shares, compared to its average volume of 106,556. The business's fifty day moving average price is $36.50 and its 200 day moving average price is $35.28. Ituran Location and Control Ltd. has a 52-week low of $24.12 and a 52-week high of $45.43. The stock has a market cap of $750.85 million, a price-to-earnings ratio of 13.58 and a beta of 0.82.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, topping the consensus estimate 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 business had revenue of $86.46 million during the quarter, compared to the consensus estimate of $88.47 million.

Ituran Location and Control Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $2.00 annualized dividend and a dividend yield of 5.30%. Ituran Location and Control's payout ratio is currently 71.94%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th.

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.