Roffman Miller Associates Inc. PA Acquires 13,884 Shares of Artesian Resources Corporation (NASDAQ:ARTNA)

Roffman Miller Associates Inc. PA grew its position in shares of Artesian Resources Corporation (NASDAQ:ARTNA - Free Report) by 17.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,294 shares of the utilities provider's stock after buying an additional 13,884 shares during the quarter. Roffman Miller Associates Inc. PA owned approximately 0.89% of Artesian Resources worth $2,981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ARTNA. Janney Montgomery Scott LLC grew its stake in shares of Artesian Resources by 131.9% during the first quarter. Janney Montgomery Scott LLC now owns 24,001 shares of the utilities provider's stock valued at $784,000 after purchasing an additional 13,650 shares during the last quarter. North Star Investment Management Corp. grew its stake in shares of Artesian Resources by 3.5% during the first quarter. North Star Investment Management Corp. now owns 59,000 shares of the utilities provider's stock valued at $1,926,000 after purchasing an additional 2,000 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Artesian Resources during the first quarter valued at approximately $407,000. GAMMA Investing LLC grew its stake in shares of Artesian Resources by 4,084.4% during the first quarter. GAMMA Investing LLC now owns 1,339 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 1,307 shares during the last quarter. Finally, Palisades Investment Partners LLC grew its stake in shares of Artesian Resources by 8.2% during the fourth quarter. Palisades Investment Partners LLC now owns 51,777 shares of the utilities provider's stock valued at $1,637,000 after purchasing an additional 3,910 shares during the last quarter. 57.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Artesian Resources from a "hold" rating to a "buy" rating in a research note on Monday, May 5th.

Artesian Resources Price Performance

Shares of ARTNA traded up $0.17 during mid-day trading on Thursday, hitting $33.73. 31,192 shares of the company traded hands, compared to its average volume of 36,082. Artesian Resources Corporation has a one year low of $29.45 and a one year high of $41.29. The stock has a market capitalization of $347.76 million, a price-to-earnings ratio of 16.22 and a beta of 0.33. The company has a current ratio of 0.98, a quick ratio of 0.77 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average of $33.92 and a 200 day moving average of $32.63.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.18. Artesian Resources had a net margin of 19.60% and a return on equity of 8.98%. The firm had revenue of $25.89 million for the quarter, compared to analysts' expectations of $25.00 million. As a group, equities analysts expect that Artesian Resources Corporation will post 1.92 earnings per share for the current fiscal year.

Artesian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were paid a $0.3074 dividend. The ex-dividend date was Friday, May 16th. This is a boost from Artesian Resources's previous quarterly dividend of $0.30. This represents a $1.23 dividend on an annualized basis and a yield of 3.65%. Artesian Resources's dividend payout ratio (DPR) is presently 59.13%.

Artesian Resources Profile

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.