North Star Investment Management Corp. Has $1,005,000 Position in Artesian Resources Corporation (NASDAQ:ARTNA)

North Star Investment Management Corp. continued to hold its position in shares of Artesian Resources Corporation (NASDAQ:ARTNA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,700 shares of the utilities provider’s stock at the end of the second quarter. North Star Investment Management Corp.’s holdings in Artesian Resources Corporation were worth $1,005,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Teton Advisors Inc. raised its position in shares of Artesian Resources Corporation by 1.2% in the first quarter. Teton Advisors Inc. now owns 24,526 shares of the utilities provider’s stock worth $799,000 after buying an additional 300 shares during the period. American International Group Inc. raised its position in shares of Artesian Resources Corporation by 7.4% in the first quarter. American International Group Inc. now owns 4,785 shares of the utilities provider’s stock worth $156,000 after buying an additional 329 shares during the period. Wells Fargo & Company MN raised its position in shares of Artesian Resources Corporation by 5.1% in the first quarter. Wells Fargo & Company MN now owns 29,935 shares of the utilities provider’s stock worth $975,000 after buying an additional 1,463 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Artesian Resources Corporation by 6.4% in the first quarter. TIAA CREF Investment Management LLC now owns 25,289 shares of the utilities provider’s stock worth $823,000 after buying an additional 1,511 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Artesian Resources Corporation by 79.3% in the first quarter. Bank of America Corp DE now owns 3,823 shares of the utilities provider’s stock worth $124,000 after buying an additional 1,691 shares during the period. Institutional investors and hedge funds own 39.81% of the company’s stock.

Shares of Artesian Resources Corporation (NASDAQ ARTNA) traded up 0.99% on Wednesday, reaching $37.76. 8,140 shares of the company’s stock traded hands. The firm has a market capitalization of $345.32 million, a price-to-earnings ratio of 26.22 and a beta of 0.09. The company has a 50 day moving average price of $38.23 and a 200 day moving average price of $34.88. Artesian Resources Corporation has a 52 week low of $26.28 and a 52 week high of $41.90.

Artesian Resources Corporation (NASDAQ:ARTNA) last released its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. Artesian Resources Corporation had a return on equity of 9.59% and a net margin of 16.55%. The company had revenue of $19.19 million for the quarter. On average, equities research analysts predict that Artesian Resources Corporation will post $1.49 earnings per share for the current fiscal year.

Several research analysts have weighed in on the stock. Hilliard Lyons lowered shares of Artesian Resources Corporation from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research report on Thursday, May 4th. BidaskClub lowered shares of Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research lowered shares of Artesian Resources Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th.

In other Artesian Resources Corporation news, insider Dian C. Taylor sold 4,702 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $40.08, for a total transaction of $188,456.16. Following the sale, the insider now directly owns 97,152 shares in the company, valued at approximately $3,893,852.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William C. Wyer sold 2,255 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $37.60, for a total transaction of $84,788.00. Following the sale, the director now owns 17,755 shares in the company, valued at $667,588. The disclosure for this sale can be found here. Insiders have sold a total of 26,905 shares of company stock worth $1,075,757 over the last 90 days. 20.59% of the stock is owned by insiders.

Artesian Resources Corporation Company Profile

Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.

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