ARK Investment Management LLC Grows Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

ARK Investment Management LLC lifted its position in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 4.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 86,684 shares of the industrial products company’s stock after purchasing an additional 3,791 shares during the period. ARK Investment Management LLC owned about 0.44% of Ituran Location and Control worth $2,136,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ituran Location and Control by 90.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,324 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 3,479 shares during the period. New York State Common Retirement Fund increased its stake in shares of Ituran Location and Control by 149.9% during the fourth quarter. New York State Common Retirement Fund now owns 5,979 shares of the industrial products company’s stock valued at $163,000 after buying an additional 3,586 shares during the period. Semanteon Capital Management LP bought a new stake in Ituran Location and Control in the fourth quarter valued at $217,000. Bryn Mawr Capital Management LLC purchased a new position in Ituran Location and Control during the 4th quarter valued at $204,000. Finally, Janney Montgomery Scott LLC raised its holdings in Ituran Location and Control by 50.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,222 shares of the industrial products company’s stock worth $633,000 after purchasing an additional 7,758 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Stock Performance

Shares of NASDAQ ITRN traded down $0.37 during midday trading on Tuesday, hitting $29.50. 27,943 shares of the company traded hands, compared to its average volume of 54,978. Ituran Location and Control Ltd. has a 12-month low of $24.01 and a 12-month high of $31.01. The stock has a 50-day moving average price of $25.97 and a 200 day moving average price of $26.51. The firm has a market cap of $586.87 million, a P/E ratio of 11.95 and a beta of 1.16.

Ituran Location and Control (NASDAQ:ITRN) last posted its earnings results on Monday, August 19th. The industrial products company reported $0.66 earnings per share for the quarter, topping 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 return on equity of 28.58% and a net margin of 15.30%.

Ituran Location and Control Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.29%. The ex-dividend date is Thursday, September 26th. Ituran Location and Control’s dividend payout ratio is currently 62.40%.

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.