Dynamic Technology Lab Private Ltd Acquires New Position in Artesian Resources Corporation $ARTNA

Key Points

• Dynamic Technology Lab Private Ltd acquired 8,739 shares of Artesian Resources Corporation for approximately $285,000, increasing institutional ownership to 57.37% of the company's stock.
• Artesian Resources reported earnings of $0.61 per share for the last quarter, surpassing analyst estimates by $0.05, though revenue of $28.55 million was slightly below expectations.
• The company declared a quarterly dividend of $0.3074 per share, equating to an annualized yield of 3.7%, with a payout ratio of 56.68%.

Dynamic Technology Lab Private Ltd purchased a new position in shares of Artesian Resources Corporation (NASDAQ:ARTNA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,739 shares of the utilities provider's stock, valued at approximately $285,000. Dynamic Technology Lab Private Ltd owned 0.08% of Artesian Resources as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ARTNA. OMERS ADMINISTRATION Corp purchased a new stake in Artesian Resources during the first quarter worth about $291,000. Jump Financial LLC purchased a new position in Artesian Resources in the first quarter valued at about $283,000. AlphaQuest LLC lifted its position in shares of Artesian Resources by 45.2% during the 1st quarter. AlphaQuest LLC now owns 11,817 shares of the utilities provider's stock valued at $386,000 after acquiring an additional 3,681 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Artesian Resources by 4.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 927,232 shares of the utilities provider's stock worth $30,275,000 after acquiring an additional 41,357 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Artesian Resources by 9.7% in the 1st quarter. American Century Companies Inc. now owns 18,870 shares of the utilities provider's stock worth $616,000 after acquiring an additional 1,675 shares during the period. Hedge funds and other institutional investors own 57.37% of the company's stock.

Artesian Resources Price Performance

NASDAQ ARTNA traded up $0.09 during mid-day trading on Thursday, hitting $32.40. The stock had a trading volume of 16,867 shares, compared to its average volume of 24,123. The company has a 50 day simple moving average of $33.15 and a 200 day simple moving average of $33.35. The company has a market cap of $334.04 million, a price-to-earnings ratio of 14.93 and a beta of 0.35. Artesian Resources Corporation has a 52-week low of $29.45 and a 52-week high of $37.77. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.72.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. Artesian Resources had a return on equity of 9.55% and a net margin of 20.84%.The company had revenue of $28.55 million for the quarter, compared to analyst estimates of $29.00 million. Equities analysts forecast that Artesian Resources Corporation will post 1.92 EPS for the current fiscal year.

Artesian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Friday, August 15th were issued a dividend of $0.3074 per share. This represents a $1.23 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, August 15th. Artesian Resources's dividend payout ratio (DPR) is 56.68%.

Insiders Place Their Bets

In other Artesian Resources news, SVP John M. Thaeder sold 1,000 shares of Artesian Resources stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $33.37, for a total transaction of $33,370.00. Following the completion of the transaction, the senior vice president owned 20,592 shares in the company, valued at approximately $687,155.04. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 20.59% of the company's stock.

About Artesian Resources

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.