Arizona State Retirement System Makes New Investment in IDT Co. (NYSE:IDT)

Arizona State Retirement System purchased a new stake in shares of IDT Co. (NYSE:IDT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,828 shares of the utilities provider’s stock, valued at approximately $229,000.

Other large investors have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. bought a new stake in IDT during the 4th quarter valued at approximately $200,000. Bailard Inc. purchased a new stake in IDT during the 4th quarter valued at approximately $220,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of IDT during the fourth quarter valued at approximately $242,000. New York State Common Retirement Fund lifted its holdings in shares of IDT by 26.0% in the fourth quarter. New York State Common Retirement Fund now owns 5,329 shares of the utilities provider’s stock worth $253,000 after buying an additional 1,100 shares in the last quarter. Finally, Versor Investments LP bought a new position in shares of IDT during the third quarter worth $213,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of IDT from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 10th.

IDT Trading Down 1.9 %

Shares of IDT stock opened at $46.66 on Friday. IDT Co. has a 12 month low of $33.84 and a 12 month high of $58.77. The stock has a 50 day moving average of $47.88 and a 200 day moving average of $46.31. The firm has a market cap of $1.18 billion, a PE ratio of 15.98 and a beta of 0.83.

IDT (NYSE:IDT) last posted its earnings results on Thursday, March 6th. The utilities provider reported $0.81 earnings per share for the quarter. The firm 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. This is a boost from IDT’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, March 17th. IDT’s dividend payout ratio is currently 7.62%.

Insider Activity at IDT

In other IDT news, CTO David Wartell sold 17,116 shares of the company’s 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 25.32% of the stock is owned by insiders.

About IDT

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.