Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Artesian Resources Corporation (NASDAQ:ARTNA) by 29.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,911 shares of the utilities provider’s stock after buying an additional 16,968 shares during the period. Dalton Greiner Hartman Maher & Co. owned about 0.82% of Artesian Resources Corporation worth $2,820,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC purchased a new stake in shares of Artesian Resources Corporation during the first quarter worth about $269,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Artesian Resources Corporation during the first quarter worth about $242,000. American International Group Inc. raised its stake 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 last quarter. Martingale Asset Management L P raised its stake in shares of Artesian Resources Corporation by 23.1% in the first quarter. Martingale Asset Management L P now owns 46,412 shares of the utilities provider’s stock worth $1,512,000 after buying an additional 8,707 shares during the last quarter. Finally, FCA Corp TX raised its stake in shares of Artesian Resources Corporation by 3.3% in the first quarter. FCA Corp TX now owns 81,564 shares of the utilities provider’s stock worth $2,656,000 after buying an additional 2,600 shares during the last quarter. 39.87% of the stock is currently owned by hedge funds and other institutional investors.
Artesian Resources Corporation (NASDAQ ARTNA) traded up 0.19% during mid-day trading on Wednesday, hitting $36.81. The stock had a trading volume of 9,386 shares. The company has a 50 day moving average price of $37.98 and a 200-day moving average price of $35.89. The company has a market cap of $338.21 million, a price-to-earnings ratio of 25.21 and a beta of 0.10. Artesian Resources Corporation has a one year low of $26.28 and a one year high of $41.90.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 14th will be paid a dividend of $0.2317 per share. This represents a $0.93 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, August 10th. Artesian Resources Corporation’s dividend payout ratio (DPR) is 63.27%.
A number of brokerages have issued reports on ARTNA. Hilliard Lyons lowered 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 raised Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research lowered Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday.
In other news, Director Nicholle Renee Taylor sold 2,770 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $40.13, for a total value of $111,160.10. Following the completion of the sale, the director now owns 6,979 shares of the company’s stock, valued at approximately $280,067.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Eisenbrey, Jr. sold 13,500 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $40.59, for a total transaction of $547,965.00. Following the completion of the sale, the director now directly owns 54,501 shares of the company’s stock, valued at approximately $2,212,195.59. The disclosure for this sale can be found here. Insiders have sold a total of 23,650 shares of company stock worth $954,969 in the last ninety days. 20.59% of the stock is currently owned by insiders.
About Artesian Resources Corporation
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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