IDT Co. (NYSE:IDT) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in IDT Co. (NYSE:IDT - Free Report) by 76.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,536 shares of the utilities provider's stock after buying an additional 48,288 shares during the quarter. Bank of New York Mellon Corp owned about 0.44% of IDT worth $5,300,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IDT. Victory Capital Management Inc. increased its holdings in IDT by 7.3% in the third quarter. Victory Capital Management Inc. now owns 34,313 shares of the utilities provider's stock valued at $1,310,000 after buying an additional 2,320 shares in the last quarter. Quest Partners LLC increased its stake in IDT by 40.7% in the 3rd quarter. Quest Partners LLC now owns 10,554 shares of the utilities provider's stock valued at $403,000 after purchasing an additional 3,055 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in IDT by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,808 shares of the utilities provider's stock valued at $6,024,000 after purchasing an additional 6,183 shares in the last quarter. Cerity Partners LLC raised its holdings in IDT by 121.7% during the third quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider's stock worth $3,653,000 after purchasing an additional 52,532 shares during the last quarter. Finally, FMR LLC boosted its position in IDT by 26.8% during the third quarter. FMR LLC now owns 83,868 shares of the utilities provider's stock worth $3,201,000 after purchasing an additional 17,725 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other IDT news, CTO David Wartell sold 10,735 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total value of $525,907.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of IDT from a "buy" rating to a "strong-buy" rating in a report on Tuesday.

IDT Stock Performance

IDT stock traded down $0.35 during trading on Friday, hitting $50.60. The company's stock had a trading volume of 83,020 shares, compared to its average volume of 86,770. The stock's fifty day moving average is $48.19 and its 200 day moving average is $46.58. IDT Co. has a 1-year low of $33.84 and a 1-year high of $58.77. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 17.33 and a beta of 0.84.

IDT (NYSE:IDT - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. The company had revenue of $303.35 million during the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%.

IDT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 17th will be issued a dividend of $0.06 per share. This is an increase from IDT's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, March 17th. IDT's dividend payout ratio (DPR) is presently 7.62%.

IDT Company Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.