Bessemer Group Inc. held its position in Artesian Resources Corporation (NASDAQ:ARTNA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,300 shares of the utilities provider’s stock at the end of the second quarter. Bessemer Group Inc. owned 0.18% of Artesian Resources Corporation worth $614,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in ARTNA. Vanguard Group Inc. boosted its position in Artesian Resources Corporation by 0.7% in the first quarter. Vanguard Group Inc. now owns 365,893 shares of the utilities provider’s stock worth $11,914,000 after buying an additional 2,417 shares during the period. Renaissance Technologies LLC boosted its position in Artesian Resources Corporation by 6.6% in the first quarter. Renaissance Technologies LLC now owns 282,700 shares of the utilities provider’s stock worth $9,205,000 after buying an additional 17,400 shares during the period. First Manhattan Co. boosted its position in Artesian Resources Corporation by 5.9% in the first quarter. First Manhattan Co. now owns 256,823 shares of the utilities provider’s stock worth $7,329,000 after buying an additional 14,250 shares during the period. Dimensional Fund Advisors LP boosted its position in Artesian Resources Corporation by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 200,290 shares of the utilities provider’s stock worth $6,521,000 after buying an additional 8,120 shares during the period. Finally, State Street Corp boosted its position in Artesian Resources Corporation by 2.1% in the fourth quarter. State Street Corp now owns 174,038 shares of the utilities provider’s stock worth $5,558,000 after buying an additional 3,529 shares during the period. 39.87% of the stock is owned by institutional investors.
Shares of Artesian Resources Corporation (ARTNA) opened at 36.27 on Friday. Artesian Resources Corporation has a 12 month low of $26.28 and a 12 month high of $41.90. The stock has a 50 day moving average price of $37.91 and a 200-day moving average price of $35.93. The stock has a market cap of $333.25 million, a P/E ratio of 24.84 and a beta of 0.10.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 14th will be issued a $0.2317 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.93 dividend on an annualized basis and a dividend yield of 2.56%. Artesian Resources Corporation’s payout ratio is currently 63.27%.
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A number of equities analysts have recently weighed in on ARTNA shares. Zacks Investment Research cut Artesian Resources Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. BidaskClub downgraded Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Hilliard Lyons downgraded Artesian Resources Corporation from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Thursday, May 4th.
In related news, insider Dian C. Taylor sold 4,702 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $40.08, for a total transaction of $188,456.16. Following the completion of the sale, the insider now directly owns 97,152 shares in the company, valued at $3,893,852.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Nicholle Renee Taylor sold 2,770 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $40.13, for a total value of $111,160.10. Following the sale, the director now owns 6,979 shares of the company’s stock, valued at $280,067.27. The disclosure for this sale can be found here. Insiders sold 23,650 shares of company stock valued at $954,969 in the last 90 days. Corporate insiders own 20.59% of the company’s stock.
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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