Roffman Miller Associates Inc. PA increased its holdings in shares of Artesian Resources Corporation (NASDAQ:ARTNA - Free Report) by 17.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,294 shares of the utilities provider's stock after purchasing an additional 13,884 shares during the quarter. Roffman Miller Associates Inc. PA owned 0.89% of Artesian Resources worth $2,981,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings in Artesian Resources by 131.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 24,001 shares of the utilities provider's stock worth $784,000 after acquiring an additional 13,650 shares during the period. North Star Investment Management Corp. increased its position in Artesian Resources by 3.5% in the first quarter. North Star Investment Management Corp. now owns 59,000 shares of the utilities provider's stock worth $1,926,000 after buying an additional 2,000 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Artesian Resources in the first quarter worth $407,000. GAMMA Investing LLC increased its holdings 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 period. Finally, Palisades Investment Partners LLC increased its holdings 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 period. Institutional investors and hedge funds own 57.37% of the company's stock.
Artesian Resources Trading Up 0.6%
NASDAQ ARTNA traded up $0.19 during trading on Tuesday, reaching $33.69. 2,038 shares of the stock traded hands, compared to its average volume of 38,241. The firm has a market cap of $347.34 million, a price-to-earnings ratio of 16.20 and a beta of 0.33. The stock's 50-day moving average price is $33.98 and its 200 day moving average price is $32.62. The company has a quick ratio of 0.77, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. Artesian Resources Corporation has a fifty-two week low of $29.45 and a fifty-two week high of $41.29.
Artesian Resources (NASDAQ:ARTNA - Get Free Report) last announced its earnings results on Monday, May 5th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.35 by $0.18. Artesian Resources had a net margin of 19.60% and a return on equity of 8.98%. The business had revenue of $25.89 million during the quarter, compared to analysts' expectations of $25.00 million. Analysts predict that Artesian Resources Corporation will post 1.92 EPS for the current year.
Artesian Resources Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were issued a $0.3074 dividend. This is a positive change from Artesian Resources's previous quarterly dividend of $0.30. This represents a $1.23 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Friday, May 16th. Artesian Resources's dividend payout ratio (DPR) is currently 59.13%.
Analyst Ratings Changes
Separately, Wall Street Zen raised Artesian Resources from a "hold" rating to a "buy" rating in a research note on Monday, May 5th.
Get Our Latest Stock Report on Artesian Resources
About Artesian Resources
(
Free Report)
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.
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