Emmett Investment Management LP Purchases New Stake in IDT Co. (NYSE:IDT)

Emmett Investment Management LP purchased a new stake in IDT Co. (NYSE:IDT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 110,617 shares of the utilities provider's stock, valued at approximately $5,257,000. IDT comprises 4.7% of Emmett Investment Management LP's holdings, making the stock its 8th biggest holding. Emmett Investment Management LP owned about 0.44% of IDT at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in IDT by 35.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock worth $116,000 after purchasing an additional 632 shares during the last quarter. Quantbot Technologies LP bought a new stake in IDT during the 4th quarter worth about $129,000. New Age Alpha Advisors LLC bought a new stake in IDT during the 4th quarter worth about $134,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in IDT during the 4th quarter worth about $180,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in IDT during the 4th quarter worth about $200,000. 59.34% of the stock is owned by institutional investors.

Insider Activity at IDT

In other IDT news, CTO David Wartell sold 10,735 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 25.32% of the stock is owned by insiders.

IDT Price Performance

Shares of IDT stock traded up $1.73 during trading on Friday, hitting $55.31. 189,517 shares of the company were exchanged, compared to its average volume of 96,142. The firm has a market capitalization of $1.39 billion, a P/E ratio of 18.94 and a beta of 0.69. IDT Co. has a 1-year low of $33.84 and a 1-year high of $58.77. The firm's fifty day moving average price is $49.91 and its 200 day moving average price is $49.11.

IDT (NYSE:IDT - Get Free Report) 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 during 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 disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were given a $0.06 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from IDT's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.43%. IDT's payout ratio is currently 7.62%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised IDT from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th.

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.