Pekin Hardy Strauss Inc. Has $6.63 Million Holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Pekin Hardy Strauss Inc. decreased its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 243,496 shares of the industrial products company’s stock after selling 11,459 shares during the period. Ituran Location and Control comprises about 0.9% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 24th largest holding. Pekin Hardy Strauss Inc.’s holdings in Ituran Location and Control were worth $6,633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ITRN. Exchange Traded Concepts LLC bought a new position in shares of Ituran Location and Control in the third quarter valued at about $368,000. Meitav Investment House Ltd. raised its stake in shares of Ituran Location and Control by 50.6% in the third quarter. Meitav Investment House Ltd. now owns 66,595 shares of the industrial products company’s stock worth $1,998,000 after acquiring an additional 22,378 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in shares of Ituran Location and Control during the third quarter worth approximately $29,262,000. Inlet Private Wealth LLC bought a new stake in shares of Ituran Location and Control during the third quarter valued at approximately $1,105,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Ituran Location and Control in the third quarter valued at approximately $390,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Stock Down 2.5 %

ITRN stock traded down $0.66 during trading on Tuesday, hitting $25.68. The company had a trading volume of 31,564 shares, compared to its average volume of 54,011. The stock has a market cap of $510.78 million, a price-to-earnings ratio of 10.98 and a beta of 1.17. The firm has a 50-day moving average price of $26.83 and a 200-day moving average price of $26.26. Ituran Location and Control Ltd. has a 12 month low of $20.35 and a 12 month high of $31.01.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Thursday, February 29th. The industrial products company reported $0.60 earnings per share for the quarter. The company had revenue of $77.81 million during the quarter. Ituran Location and Control had a return on equity of 28.61% and a net margin of 15.04%.

Ituran Location and Control Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 20th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.24. This represents a $1.56 dividend on an annualized basis and a yield of 6.07%. Ituran Location and Control’s dividend payout ratio is presently 65.00%.

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.