Atria Investments Inc Takes $209,000 Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Atria Investments Inc acquired a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,712 shares of the industrial products company’s stock, valued at approximately $209,000.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Ituran Location and Control in the fourth quarter valued at approximately $117,000. Van ECK Associates Corp boosted its position in Ituran Location and Control by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 392 shares during the period. Public Employees Retirement System of Ohio bought a new position in Ituran Location and Control during the 3rd quarter worth $137,000. BNP Paribas Financial Markets increased its position in Ituran Location and Control by 214.2% in the third quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock worth $160,000 after buying an additional 4,098 shares during the period. Finally, Barclays PLC lifted its stake in Ituran Location and Control by 132.1% in the third quarter. Barclays PLC now owns 7,731 shares of the industrial products company’s stock valued at $206,000 after buying an additional 4,400 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Price Performance

Shares of ITRN stock opened at $37.39 on Wednesday. Ituran Location and Control Ltd. has a 12-month low of $24.12 and a 12-month high of $45.43. The firm has a market capitalization of $743.84 million, a price-to-earnings ratio of 14.33 and a beta of 1.10. The business has a 50 day simple moving average of $36.04 and a 200 day simple moving average of $31.05.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $82.88 million during the quarter, compared to the consensus estimate of $81.81 million. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%.

Ituran Location and Control Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, March 20th. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.39. Ituran Location and Control’s dividend payout ratio (DPR) is currently 73.80%.

Wall Street Analyst Weigh In

Separately, Barclays lifted their price objective on shares of Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th.

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.