Strs Ohio Sells 3,700 Shares of IDT Co. (NYSE:IDT)

Strs Ohio reduced its position in shares of IDT Co. (NYSE:IDT) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,300 shares of the utilities provider’s stock after selling 3,700 shares during the quarter. Strs Ohio owned 0.07% of IDT worth $623,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Adirondack Retirement Specialists Inc. grew its stake in shares of IDT by 9.2% during the 3rd quarter. Adirondack Retirement Specialists Inc. now owns 614,927 shares of the utilities provider’s stock valued at $13,559,000 after purchasing an additional 51,694 shares during the period. Deutsche Bank AG grew its stake in shares of IDT by 11.0% during the 3rd quarter. Deutsche Bank AG now owns 160,460 shares of the utilities provider’s stock valued at $3,538,000 after purchasing an additional 15,903 shares during the period. Foundry Partners LLC grew its stake in shares of IDT by 10.8% during the 3rd quarter. Foundry Partners LLC now owns 137,295 shares of the utilities provider’s stock valued at $3,027,000 after purchasing an additional 13,400 shares during the period. Algert Global LLC grew its stake in shares of IDT by 91.5% during the 3rd quarter. Algert Global LLC now owns 99,775 shares of the utilities provider’s stock valued at $2,200,000 after purchasing an additional 47,670 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of IDT by 38.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 91,558 shares of the utilities provider’s stock valued at $2,019,000 after acquiring an additional 25,575 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded IDT from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th.

Insiders Place Their Bets

In other IDT news, CAO Mitch Silberman sold 2,115 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $38.01, for a total value of $80,391.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Bill Pereira sold 15,647 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $37.95, for a total transaction of $593,803.65. Following the sale, the chief operating officer now directly owns 49,999 shares of the company’s stock, valued at approximately $1,897,462.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mitch Silberman sold 2,115 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $38.01, for a total value of $80,391.15. The disclosure for this sale can be found here. Insiders sold 18,192 shares of company stock worth $690,075 in the last three months. 15.00% of the stock is owned by company insiders.

IDT Trading Down 0.4 %

Shares of NYSE:IDT opened at $36.15 on Friday. The stock has a 50 day moving average of $37.11 and a 200 day moving average of $33.46. The company has a market cap of $917.85 million, a PE ratio of 24.93 and a beta of 0.97. IDT Co. has a 12-month low of $21.64 and a 12-month high of $38.68.

IDT (NYSE:IDT) last posted its quarterly earnings results on Wednesday, March 6th. The utilities provider reported $0.59 earnings per share for the quarter. IDT had a return on equity of 20.18% and a net margin of 3.08%. The business had revenue of $296.10 million during the quarter.

IDT Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were paid a $0.05 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.55%. IDT’s payout ratio is 13.79%.

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.