Mackenzie Financial Corp Invests $676,000 in IDT Co. (NYSE:IDT)

Mackenzie Financial Corp purchased a new stake in IDT Co. (NYSE:IDT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,222 shares of the utilities provider's stock, valued at approximately $676,000. Mackenzie Financial Corp owned 0.06% of IDT at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of IDT by 35.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock valued at $116,000 after acquiring an additional 632 shares during the period. Quantbot Technologies LP purchased a new stake in shares of IDT in the fourth quarter worth $129,000. New Age Alpha Advisors LLC purchased a new position in IDT during the fourth quarter valued at $134,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in IDT during the fourth quarter valued at $180,000. Finally, Raymond James Financial Inc. bought a new position in IDT during the fourth quarter valued at $201,000. 59.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other IDT news, CTO David Wartell sold 10,735 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total value of $525,907.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 25.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of IDT from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 18th.

IDT Trading Up 1.8%

NYSE IDT traded up $1.06 during trading hours on Thursday, reaching $59.92. The company had a trading volume of 198,626 shares, compared to its average volume of 102,567. The stock has a market capitalization of $1.51 billion, a P/E ratio of 20.52 and a beta of 0.69. IDT Co. has a 1-year low of $33.84 and a 1-year high of $62.97. The stock has a 50-day moving average of $53.68 and a 200 day moving average of $50.57.

IDT (NYSE:IDT - Get Free Report) last released its earnings results on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

IDT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were given a dividend of $0.06 per share. 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 0.40%. The ex-dividend date of this dividend was Monday, March 17th. IDT's dividend payout ratio is currently 7.62%.

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.