Roffman Miller Associates Inc. PA Raises Stock Holdings in Artesian Resources Corporation (NASDAQ:ARTNA)

Roffman Miller Associates Inc. PA raised its position in Artesian Resources Corporation (NASDAQ:ARTNA - Free Report) by 17.9% in the first quarter, according to the company in 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised 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 worth $41,000 after purchasing an additional 1,307 shares during the last quarter. Aquatic Capital Management LLC raised its stake in shares of Artesian Resources by 703.3% during the fourth quarter. Aquatic Capital Management LLC now owns 2,410 shares of the utilities provider's stock worth $76,000 after purchasing an additional 2,110 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Artesian Resources by 100.2% during the fourth quarter. Wells Fargo & Company MN now owns 3,514 shares of the utilities provider's stock worth $111,000 after purchasing an additional 1,759 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Artesian Resources during the fourth quarter worth approximately $272,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Artesian Resources during the first quarter worth approximately $407,000. Hedge funds and other institutional investors own 57.37% of the company's stock.

Wall Street Analyst Weigh In

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

Artesian Resources Stock Up 2.1%

Artesian Resources stock opened at $34.53 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.77 and a current ratio of 0.98. The firm has a market capitalization of $355.95 million, a price-to-earnings ratio of 16.60 and a beta of 0.33. Artesian Resources Corporation has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The stock's fifty day moving average is $34.00 and its two-hundred day moving average is $32.61.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last posted its earnings results on Monday, May 5th. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.18. Artesian Resources had a return on equity of 8.98% and a net margin of 19.60%. The company had revenue of $25.89 million for the quarter, compared to analyst estimates of $25.00 million. Analysts predict that Artesian Resources Corporation will post 1.92 EPS for the current fiscal year.

Artesian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were given a $0.3074 dividend. This is an increase from Artesian Resources's previous quarterly dividend of $0.30. This represents a $1.23 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, May 16th. Artesian Resources's dividend payout ratio is currently 59.13%.

Artesian Resources Company 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.

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