Ituran Location and Control Ltd. (NASDAQ:ITRN) Short Interest Down 24.2% in September

Ituran Location and Control Ltd. (NASDAQ:ITRN) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 33,600 shares, a decrease of 24.2% from the September 15th total of 44,300 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 77,300 shares, the days-to-cover ratio is currently 0.4 days.

Ituran Location and Control Trading Down 0.3 %

NASDAQ:ITRN traded down $0.08 during midday trading on Tuesday, hitting $26.79. 76,180 shares of the company were exchanged, compared to its average volume of 57,435. Ituran Location and Control has a fifty-two week low of $24.01 and a fifty-two week high of $30.00. The company has a market capitalization of $532.96 million, a PE ratio of 10.71 and a beta of 1.14. The company has a fifty day simple moving average of $27.16 and a 200 day simple moving average of $26.57.

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

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Thursday, September 26th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend was Thursday, September 26th. Ituran Location and Control’s payout ratio is currently 62.40%.

Institutional Investors Weigh In On Ituran Location and Control

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blair William & Co. IL purchased a new position in Ituran Location and Control in the 1st quarter valued at $203,000. Caprock Group LLC purchased a new stake in shares of Ituran Location and Control in the second quarter valued at about $226,000. Heron Bay Capital Management raised its holdings in Ituran Location and Control by 6.2% during the second quarter. Heron Bay Capital Management now owns 10,604 shares of the industrial products company’s stock worth $261,000 after purchasing an additional 622 shares in the last quarter. DGS Capital Management LLC acquired a new stake in Ituran Location and Control in the first quarter valued at about $340,000. Finally, California State Teachers Retirement System boosted its holdings in Ituran Location and Control by 11.3% in the 1st quarter. California State Teachers Retirement System now owns 16,585 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 1,679 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

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.