Artesian Resources Co. (ARTNA) Director Sells $35,990.00 in Stock

Artesian Resources Co. (NASDAQ:ARTNA) Director Kenneth R. Biederman sold 1,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $35.99, for a total value of $35,990.00. Following the transaction, the director now owns 19,875 shares in the company, valued at approximately $715,301.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Artesian Resources stock traded down $0.39 during mid-day trading on Thursday, reaching $37.05. 112 shares of the company were exchanged, compared to its average volume of 15,490. Artesian Resources Co. has a 12 month low of $32.27 and a 12 month high of $40.97. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.33 and a quick ratio of 0.29. The firm has a market cap of $343.60 million, a PE ratio of 23.90 and a beta of 0.07.

Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.39 EPS for the quarter. Artesian Resources had a return on equity of 9.49% and a net margin of 17.79%. The firm had revenue of $19.39 million for the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Friday, May 10th will be paid a $0.2459 dividend. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.98 annualized dividend and a dividend yield of 2.65%.

Several institutional investors and hedge funds have recently modified their holdings of ARTNA. Costello Asset Management INC bought a new position in shares of Artesian Resources in the 4th quarter valued at $5,482,000. Deprince Race & Zollo Inc. bought a new position in shares of Artesian Resources in the 4th quarter valued at $3,506,000. Foundry Partners LLC bought a new position in shares of Artesian Resources in the 1st quarter valued at $1,371,000. BlackRock Inc. increased its stake in shares of Artesian Resources by 4.0% in the 4th quarter. BlackRock Inc. now owns 439,716 shares of the utilities provider’s stock valued at $15,333,000 after purchasing an additional 16,890 shares during the last quarter. Finally, Water Asset Management LLC increased its stake in shares of Artesian Resources by 20.5% in the 4th quarter. Water Asset Management LLC now owns 68,004 shares of the utilities provider’s stock valued at $2,371,000 after purchasing an additional 11,559 shares during the last quarter. Institutional investors own 42.23% of the company’s stock.

A number of research firms have commented on ARTNA. ValuEngine upgraded Artesian Resources from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. BidaskClub upgraded Artesian Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th.

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Artesian Resources Company Profile

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services on the Delmarva Peninsula. 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 services to customers in Delaware.

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