Ituran Location and Control (NASDAQ:ITRN) Shares Gap Down to $27.31

Ituran Location and Control Ltd. (NASDAQ:ITRN) gapped down prior to trading on Friday . The stock had previously closed at $27.31, but opened at $26.50. Ituran Location and Control shares last traded at $26.42, with a volume of 25,328 shares trading hands.

Ituran Location and Control Stock Performance

The stock has a fifty day moving average price of $27.01 and a 200-day moving average price of $26.72. The firm has a market cap of $529.58 million, a PE ratio of 10.92 and a beta of 1.15.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings data on Monday, August 19th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. Ituran Location and Control had a net margin of 15.42% and a return on equity of 28.43%. The company had revenue of $84.87 million during the quarter.

Ituran Location and Control Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Thursday, September 26th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 5.86%. The ex-dividend date is Thursday, September 26th. Ituran Location and Control’s payout ratio is 62.40%.

Institutional Trading of Ituran Location and Control

Several large investors have recently bought and sold shares of the company. Blair William & Co. IL purchased a new position in shares of Ituran Location and Control in the first quarter valued at $203,000. Caprock Group LLC purchased a new position in Ituran Location and Control in the 2nd quarter valued at about $226,000. Assenagon Asset Management S.A. purchased a new stake in shares of Ituran Location and Control during the first quarter worth about $277,000. Heron Bay Capital Management lifted its stake in shares of Ituran Location and Control by 18.3% in the first quarter. Heron Bay Capital Management now owns 9,982 shares of the industrial products company’s stock worth $279,000 after acquiring an additional 1,541 shares in the last quarter. Finally, DGS Capital Management LLC purchased a new position in Ituran Location and Control in the first quarter valued at about $340,000. Institutional investors and hedge funds 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.