Acuitas Investments LLC Buys New Stake in Ituran Location and Control Ltd. $ITRN

Acuitas Investments LLC bought a new stake in Ituran Location and Control Ltd. (NASDAQ:ITRN) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 15,000 shares of the industrial products company’s stock, valued at approximately $581,000.

A number of other hedge funds have also recently modified their holdings of ITRN. Costello Asset Management INC purchased a new position in shares of Ituran Location and Control in the 1st quarter valued at $40,000. AdvisorNet Financial Inc grew its position in shares of Ituran Location and Control by 148.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,120 shares of the industrial products company’s stock valued at $43,000 after buying an additional 670 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Ituran Location and Control by 327.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after buying an additional 939 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Ituran Location and Control in the 1st quarter valued at $54,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of Ituran Location and Control in the 2nd quarter valued at $113,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ITRN. Wall Street Zen raised shares of Ituran Location and Control from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ituran Location and Control in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Ituran Location and Control presently has a consensus rating of “Buy” and an average price target of $50.00.

Ituran Location and Control Price Performance

Shares of NASDAQ:ITRN opened at $37.49 on Friday. The stock has a market cap of $745.68 million, a P/E ratio of 13.44 and a beta of 0.87. The firm has a fifty day moving average price of $35.86 and a 200 day moving average price of $36.82. Ituran Location and Control Ltd. has a 1-year low of $26.46 and a 1-year high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last released 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). Ituran Location and Control had a return on equity of 28.24% and a net margin of 16.35%.The firm had revenue of $86.79 million during the quarter, compared to analyst estimates of $89.17 million.

Ituran Location and Control Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Thursday, September 25th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Thursday, September 25th. Ituran Location and Control’s dividend payout ratio (DPR) is 71.68%.

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.