CSM Advisors LLC Has $2.62 Million Stock Position in IDT Corporation $IDT

CSM Advisors LLC lessened its stake in shares of IDT Corporation (NYSE:IDT) by 38.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,115 shares of the utilities provider’s stock after selling 31,960 shares during the period. CSM Advisors LLC owned about 0.20% of IDT worth $2,623,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of IDT. Gabelli Funds LLC acquired a new stake in shares of IDT in the 2nd quarter valued at approximately $239,000. Ameriprise Financial Inc. acquired a new position in IDT during the third quarter worth $399,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in IDT by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock worth $470,000 after acquiring an additional 381 shares in the last quarter. Strs Ohio raised its position in IDT by 5.9% during the third quarter. Strs Ohio now owns 10,700 shares of the utilities provider’s stock worth $560,000 after acquiring an additional 600 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in IDT by 27.0% in the third quarter. California State Teachers Retirement System now owns 19,481 shares of the utilities provider’s stock valued at $1,019,000 after acquiring an additional 4,136 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at IDT

In related news, CFO Marcelo Fischer sold 920 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $52.04, for a total value of $47,876.80. Following the transaction, the chief financial officer owned 55,943 shares in the company, valued at approximately $2,911,273.72. This represents a 1.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 8,570 shares of company stock worth $446,073. Insiders own 25.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of IDT in a research report on Monday, December 29th. Wall Street Zen cut shares of IDT from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

IDT Trading Down 1.9%

IDT stock opened at $47.79 on Tuesday. IDT Corporation has a 1-year low of $45.35 and a 1-year high of $71.12. The business’s 50 day simple moving average is $49.72 and its 200 day simple moving average is $52.35. The firm has a market capitalization of $1.20 billion, a PE ratio of 14.66 and a beta of 0.76.

IDT (NYSE:IDT) last announced its quarterly earnings results on Tuesday, March 10th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.10. IDT had a return on equity of 25.97% and a net margin of 6.49%.The business had revenue of $320.52 million during the quarter, compared to the consensus estimate of $302.00 million.

IDT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, March 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from IDT’s previous quarterly dividend of $0.06. IDT’s dividend payout ratio is 8.59%.

IDT Profile

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.