TIAA CREF Investment Management LLC increased its stake in shares of Artesian Resources Corporation (NASDAQ:ARTNA) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,289 shares of the utilities provider’s stock after buying an additional 1,511 shares during the period. TIAA CREF Investment Management LLC’s holdings in Artesian Resources Corporation were worth $823,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC acquired a new position in shares of Artesian Resources Corporation during the first quarter valued at approximately $269,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Artesian Resources Corporation during the first quarter valued at approximately $242,000. American International Group Inc. increased 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 valued at $156,000 after buying an additional 329 shares during the period. Martingale Asset Management L P increased its position 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 valued at $1,512,000 after buying an additional 8,707 shares during the period. Finally, FCA Corp TX increased its position 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 valued at $2,656,000 after buying an additional 2,600 shares during the period. 39.87% of the stock is currently owned by hedge funds and other institutional investors.
Artesian Resources Corporation (ARTNA) traded down 0.1685% during trading on Monday, hitting $36.2089. The stock had a trading volume of 1,067 shares. Artesian Resources Corporation has a one year low of $26.28 and a one year high of $41.90. The company has a market cap of $332.69 million, a P/E ratio of 24.8006 and a beta of 0.10. The firm has a 50 day moving average of $37.91 and a 200-day moving average of $35.93.
The business also recently announced 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. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.93 annualized dividend and a yield of 2.56%. Artesian Resources Corporation’s payout ratio is 63.27%.
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Several equities analysts have commented on ARTNA shares. Zacks Investment Research downgraded Artesian Resources Corporation from a “buy” rating to a “hold” rating in a research 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 target on the stock. in a research report on Thursday, May 4th.
In related news, insider Dian C. Taylor sold 4,702 shares of the business’s 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 transaction, the insider now directly owns 97,152 shares of the company’s stock, valued at approximately $3,893,852.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Eisenbrey, Jr. sold 13,500 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $40.59, for a total value of $547,965.00. Following the transaction, the director now directly owns 54,501 shares of the company’s stock, valued at $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 valued at $954,969 over the last three months. 20.59% of the stock is currently 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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