Ituran Location and Control Ltd. (NASDAQ:ITRN) Announces Quarterly Dividend of $0.11

Ituran Location and Control Ltd. (NASDAQ:ITRN – Get Rating) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Stockholders of record on Wednesday, June 28th will be given a dividend of 0.112 per share by the industrial products company on Wednesday, July 12th. This represents a $0.45 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, June 27th.

Ituran Location and Control has decreased its dividend payment by an average of 16.2% annually over the last three years. Ituran Location and Control has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings.

Ituran Location and Control Stock Up 4.2 %

Ituran Location and Control stock opened at $23.75 on Thursday. The firm’s 50 day simple moving average is $21.57 and its 200 day simple moving average is $22.09. Ituran Location and Control has a 1-year low of $20.35 and a 1-year high of $27.52.

Ituran Location and Control (NASDAQ:ITRN – Get Rating) last posted its earnings results on Tuesday, February 28th. The industrial products company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). The firm had revenue of $74.95 million for the quarter, compared to the consensus estimate of $74.63 million. Ituran Location and Control had a return on equity of 25.04% and a net margin of 12.66%.

Hedge Funds Weigh In On Ituran Location and Control

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC grew its stake in Ituran Location and Control by 16.3% in the 4th quarter. Lazard Asset Management LLC now owns 6,263 shares of the industrial products company’s stock worth $132,000 after buying an additional 878 shares in the last quarter. Credit Suisse AG grew its stake in Ituran Location and Control by 4.0% in the 3rd quarter. Credit Suisse AG now owns 27,331 shares of the industrial products company’s stock worth $637,000 after buying an additional 1,054 shares in the last quarter. Bank of America Corp DE grew its stake in Ituran Location and Control by 21.9% in the 1st quarter. Bank of America Corp DE now owns 6,824 shares of the industrial products company’s stock worth $149,000 after buying an additional 1,226 shares in the last quarter. Sei Investments Co. grew its stake in Ituran Location and Control by 1.7% in the 1st quarter. Sei Investments Co. now owns 88,590 shares of the industrial products company’s stock worth $2,039,000 after buying an additional 1,460 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Ituran Location and Control by 52.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,769 shares of the industrial products company’s stock worth $101,000 after buying an additional 1,636 shares in the last quarter. Hedge funds and other institutional investors own 55.45% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 16th.

About Ituran Location and Control

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Ituran Location & Control Ltd. engages in the provision of stolen vehicle recovery, fleet management, and tracking services. It operates through the following segments: Telematics Services and Telematics Products. The Telematics Services segment consists predominantly of regionally- based stolen vehicle recovery services, fleet management services and value-added services comprised of personal advanced locater services and concierge services.