KLP Kapitalforvaltning AS Has $277,000 Holdings in IDT Corporation (NYSE:IDT)

Key Points

• KLP Kapitalforvaltning AS reduced its stake in IDT Corporation by 46% during the first quarter, holding now 5,400 shares worth approximately $277,000.
• IDT recently announced a quarterly dividend of $0.06 per share, which translates to an annualized dividend yield of 0.4%.
• Analyst ratings for IDT have changed, with Wall Street Zen downgrading its outlook from "strong-buy" to "buy" as of mid-June.

KLP Kapitalforvaltning AS decreased its holdings in shares of IDT Corporation (NYSE:IDT - Free Report) by 46.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,400 shares of the utilities provider's stock after selling 4,600 shares during the period. KLP Kapitalforvaltning AS's holdings in IDT were worth $277,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Park Square Financial Group LLC acquired a new stake in IDT during the fourth quarter worth approximately $44,000. Copeland Capital Management LLC purchased a new stake in IDT during the 1st quarter worth $57,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of IDT by 35.0% in 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. New Age Alpha Advisors LLC bought a new stake in shares of IDT in the 4th quarter worth about $134,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of IDT in the 4th quarter valued at about $180,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of IDT from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th.

IDT Price Performance

IDT stock traded up $0.34 during trading hours on Monday, hitting $58.42. The company had a trading volume of 28,892 shares, compared to its average volume of 144,875. The firm has a market capitalization of $1.47 billion, a P/E ratio of 15.41 and a beta of 0.74. The firm's fifty day moving average is $62.81 and its 200-day moving average is $54.71. IDT Corporation has a fifty-two week low of $33.84 and a fifty-two week high of $71.12.

IDT (NYSE:IDT - Get Free Report) last posted its earnings results on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. The company had revenue of $301.98 million during the quarter. IDT had a net margin of 7.85% and a return on equity of 26.38%.

IDT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 9th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. IDT's dividend payout ratio is currently 6.33%.

IDT Company 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.