Millennium Management LLC Cuts Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Millennium Management LLC lowered its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 17.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 261,500 shares of the industrial products company's stock after selling 54,845 shares during the period. Millennium Management LLC owned approximately 1.31% of Ituran Location and Control worth $6,443,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ITRN. Acadian Asset Management LLC boosted its holdings in shares of Ituran Location and Control by 21.3% during the 2nd quarter. Acadian Asset Management LLC now owns 483,763 shares of the industrial products company's stock worth $11,884,000 after buying an additional 85,023 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in Ituran Location and Control by 8.2% in the second quarter. Rice Hall James & Associates LLC now owns 444,043 shares of the industrial products company's stock worth $10,941,000 after purchasing an additional 33,593 shares during the period. Inlet Private Wealth LLC grew its holdings in Ituran Location and Control by 3.7% in the second quarter. Inlet Private Wealth LLC now owns 141,900 shares of the industrial products company's stock worth $3,496,000 after purchasing an additional 5,000 shares during the period. ARK Investment Management LLC increased its stake in Ituran Location and Control by 4.6% in the second quarter. ARK Investment Management LLC now owns 86,684 shares of the industrial products company's stock valued at $2,136,000 after purchasing an additional 3,791 shares in the last quarter. Finally, Delphi Management Inc. MA raised its holdings in shares of Ituran Location and Control by 22.0% during the first quarter. Delphi Management Inc. MA now owns 61,706 shares of the industrial products company's stock valued at $1,725,000 after purchasing an additional 11,134 shares during the period. 94.80% of the stock is currently owned by institutional investors.

Ituran Location and Control Price Performance

Shares of ITRN traded up $0.21 during trading hours on Friday, hitting $26.86. The stock had a trading volume of 37,409 shares, compared to its average volume of 57,415. Ituran Location and Control Ltd. has a 1-year low of $24.01 and a 1-year high of $30.00. The firm has a market capitalization of $534.25 million, a P/E ratio of 10.50 and a beta of 1.14. The firm has a 50 day simple moving average of $27.14 and a 200-day simple moving average of $26.61.

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

Ituran Location and Control Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Thursday, September 26th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend was Thursday, September 26th. Ituran Location and Control's dividend payout ratio (DPR) is presently 61.18%.

Ituran Location and Control Company Profile

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.