Bank of New York Mellon Corp boosted its position in shares of IDT Co. (NYSE:IDT) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 500,356 shares of the utilities provider’s stock after buying an additional 109,015 shares during the period. Bank of New York Mellon Corp owned approximately 2.01% of IDT worth $5,304,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in IDT. Unison Advisors LLC bought a new position in IDT during the fourth quarter valued at approximately $138,000. Wells Fargo & Company MN boosted its stake in IDT by 56.7% during the fourth quarter. Wells Fargo & Company MN now owns 31,614 shares of the utilities provider’s stock valued at $335,000 after buying an additional 11,444 shares during the last quarter. California Public Employees Retirement System boosted its stake in IDT by 25.5% during the fourth quarter. California Public Employees Retirement System now owns 32,067 shares of the utilities provider’s stock valued at $340,000 after buying an additional 6,515 shares during the last quarter. Alambic Investment Management L.P. bought a new position in IDT during the fourth quarter valued at approximately $493,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in IDT during the third quarter valued at approximately $744,000. 46.79% of the stock is owned by institutional investors.
In other news, Director Judah Schorr purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was bought at an average cost of $10.82 per share, with a total value of $108,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.80% of the stock is currently owned by corporate insiders.
IDT (NYSE:IDT) last announced its quarterly earnings results on Thursday, March 8th. The utilities provider reported ($0.04) EPS for the quarter. IDT had a negative net margin of 0.97% and a positive return on equity of 3.38%. The firm had revenue of $395.88 million for the quarter.
The company also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Monday, March 19th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date of this dividend was Friday, March 16th.
Separately, UBS raised IDT from a “sell” rating to a “hold” rating in a research note on Wednesday, March 28th.
IDT Company Profile
IDT Corporation is a holding company with operations primarily in the telecommunications and payment industries. The Company’s segments include Telecom Platform Services, Consumer Phone Services and All Other. The Company’s Telecom Platform Services segment provides retail telecommunications and payment offerings, as well as wholesale international long distance traffic termination.
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