Ituran Location and Control (NASDAQ:ITRN) Hits New 52-Week High – Still a Buy?

Ituran Location and Control Ltd. (NASDAQ:ITRN) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $30.74 and last traded at $30.66, with a volume of 9356 shares traded. The stock had previously closed at $29.80.

Ituran Location and Control Stock Up 3.6 %

The firm has a market capitalization of $614.20 million, a price-to-earnings ratio of 11.42 and a beta of 1.14. The firm’s 50 day moving average is $27.25 and its 200 day moving average is $26.82.

Ituran Location and Control Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Monday, December 23rd. Ituran Location and Control’s dividend payout ratio is presently 59.77%.

Institutional Trading of Ituran Location and Control

Several large investors have recently added to or reduced their stakes in ITRN. Blue Trust Inc. increased its holdings in shares of Ituran Location and Control by 63.4% in the 3rd quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 598 shares during the period. Copeland Capital Management LLC purchased a new position in shares of Ituran Location and Control during the 3rd quarter valued at $50,000. Public Employees Retirement System of Ohio acquired a new position in shares of Ituran Location and Control in the third quarter worth $137,000. BNP Paribas Financial Markets boosted its position in Ituran Location and Control by 214.2% during the third quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 4,098 shares during the last quarter. Finally, Barclays PLC grew 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 purchasing an additional 4,400 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

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.