Bank of New York Mellon Corp Purchases 48,288 Shares of IDT Co. (NYSE:IDT)

Bank of New York Mellon Corp boosted its position in IDT Co. (NYSE:IDT) by 76.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,536 shares of the utilities provider’s stock after acquiring an additional 48,288 shares during the quarter. Bank of New York Mellon Corp’s holdings in IDT were worth $5,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of IDT by 7.3% during 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 during the last quarter. Quest Partners LLC grew its stake in shares of IDT by 40.7% during the third quarter. Quest Partners LLC now owns 10,554 shares of the utilities provider’s stock valued at $403,000 after buying an additional 3,055 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of IDT by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 157,808 shares of the utilities provider’s stock valued at $6,024,000 after buying an additional 6,183 shares during the last quarter. Cerity Partners LLC grew its stake in shares of IDT by 121.7% during the third quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock valued at $3,653,000 after buying an additional 52,532 shares during the last quarter. Finally, FMR LLC grew its stake in shares of IDT by 26.8% during the third quarter. FMR LLC now owns 83,868 shares of the utilities provider’s stock valued at $3,201,000 after buying an additional 17,725 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

IDT Price Performance

NYSE IDT opened at $48.68 on Tuesday. The stock has a market capitalization of $1.23 billion, a PE ratio of 16.67 and a beta of 0.84. IDT Co. has a 1 year low of $33.84 and a 1 year high of $58.77. The business’s 50-day moving average is $47.92 and its 200 day moving average is $46.44.

IDT (NYSE:IDT) last posted its earnings results 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 for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

IDT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 17th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. IDT’s dividend payout ratio (DPR) is presently 7.62%.

Insider Buying and Selling

In related news, CTO David Wartell sold 17,116 shares of IDT stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $47.11, for a total transaction of $806,334.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 25.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised IDT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

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.