IDT Co. (NYSE:IDT) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in IDT Co. (NYSE:IDT) by 35.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,438 shares of the utilities provider’s stock after acquiring an additional 632 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in IDT were worth $116,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Point72 Asset Management L.P. boosted its position in IDT by 272.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 13,396 shares of the utilities provider’s stock valued at $511,000 after purchasing an additional 9,796 shares during the period. Proficio Capital Partners LLC bought a new stake in IDT in the fourth quarter valued at $1,018,000. JPMorgan Chase & Co. boosted its holdings in shares of IDT by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 55,876 shares of the utilities provider’s stock valued at $2,133,000 after acquiring an additional 5,417 shares during the period. Barclays PLC grew its position in shares of IDT by 240.3% during the third quarter. Barclays PLC now owns 27,066 shares of the utilities provider’s stock worth $1,034,000 after acquiring an additional 19,112 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of IDT by 26.8% in the 3rd quarter. FMR LLC now owns 83,868 shares of the utilities provider’s stock worth $3,201,000 after acquiring an additional 17,725 shares during the period. 59.34% of the stock is owned by institutional investors.

IDT Price Performance

IDT opened at $50.96 on Friday. The stock’s 50 day moving average price is $49.09 and its 200 day moving average price is $47.56. The stock has a market cap of $1.29 billion, a P/E ratio of 17.45 and a beta of 0.84. IDT Co. has a 12 month low of $33.84 and a 12 month high of $58.77.

IDT (NYSE:IDT) last released its quarterly 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 during the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

IDT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th were paid a $0.06 dividend. This is a positive change from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 17th. IDT’s dividend payout ratio is currently 7.62%.

Insider Activity

In other news, CTO David Wartell sold 10,735 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total value of $525,907.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 25.32% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 18th.

IDT 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.