Sei Investments Co. Has $2.39 Million Stock Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Sei Investments Co. cut its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,625 shares of the industrial products company's stock after selling 9,600 shares during the quarter. Sei Investments Co. owned approximately 0.39% of Ituran Location and Control worth $2,387,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ITRN. Van ECK Associates Corp lifted its holdings in shares of Ituran Location and Control by 11.3% in the 4th quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company's stock valued at $121,000 after buying an additional 392 shares during the period. CWA Asset Management Group LLC lifted its stake in Ituran Location and Control by 20.3% during the fourth quarter. CWA Asset Management Group LLC now owns 12,708 shares of the industrial products company's stock worth $396,000 after purchasing an additional 2,144 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Ituran Location and Control by 7.8% in the fourth quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company's stock valued at $968,000 after purchasing an additional 2,249 shares during the period. DGS Capital Management LLC raised its position in shares of Ituran Location and Control by 14.8% during the 3rd quarter. DGS Capital Management LLC now owns 19,030 shares of the industrial products company's stock worth $505,000 after acquiring an additional 2,460 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Ituran Location and Control during the fourth quarter worth approximately $117,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

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Ituran Location and Control Stock Up 6.8 %

ITRN stock traded up $2.15 during midday trading on Wednesday, reaching $33.86. The company had a trading volume of 158,671 shares, compared to its average volume of 96,239. The stock has a 50 day moving average price of $36.96 and a 200 day moving average price of $32.01. The firm has a market capitalization of $673.61 million, a PE ratio of 12.97 and a beta of 0.90. Ituran Location and Control Ltd. has a fifty-two week low of $24.12 and a fifty-two week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $82.88 million during the quarter, compared to analyst estimates of $81.81 million. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Ituran Location and Control Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This is a positive change from Ituran Location and Control's previous quarterly dividend of $0.39. This represents a $2.00 annualized dividend and a yield of 5.91%. Ituran Location and Control's dividend payout ratio (DPR) is 73.80%.

Wall Street Analyst Weigh In

Separately, Barclays raised their price target on Ituran Location and Control from $35.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th.

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.