Artesian Resources Co. (NASDAQ:ARTNA) Short Interest Down 16.0% in April

Artesian Resources Co. (NASDAQ:ARTNAGet Rating) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 79,200 shares, a decline of 16.0% from the March 31st total of 94,300 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average trading volume of 26,200 shares, the short-interest ratio is currently 3.0 days.

Artesian Resources stock opened at $45.58 on Wednesday. The firm has a 50 day simple moving average of $47.52 and a 200-day simple moving average of $45.33. Artesian Resources has a 1-year low of $35.90 and a 1-year high of $50.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.40 and a quick ratio of 0.36. The stock has a market cap of $428.73 million, a price-to-earnings ratio of 25.46 and a beta of 0.09.

Artesian Resources (NASDAQ:ARTNAGet Rating) last posted its quarterly earnings results on Wednesday, March 9th. The utilities provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Artesian Resources had a net margin of 18.52% and a return on equity of 9.67%. Equities analysts expect that Artesian Resources will post 1.9 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 23rd. Stockholders of record on Monday, May 9th will be paid a $0.273 dividend. This is a boost from Artesian Resources’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, May 6th. This represents a $1.09 annualized dividend and a dividend yield of 2.40%. Artesian Resources’s dividend payout ratio is 59.78%.

Several research firms recently weighed in on ARTNA. Zacks Investment Research downgraded shares of Artesian Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, April 27th. StockNews.com cut shares of Artesian Resources from a “buy” rating to a “hold” rating in a research note on Tuesday.

In related news, SVP Pierre A. Anderson sold 628 shares of Artesian Resources stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $48.00, for a total transaction of $30,144.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dian C. Taylor sold 1,146 shares of Artesian Resources stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $47.08, for a total transaction of $53,953.68. The disclosure for this sale can be found here. Insiders have sold 10,524 shares of company stock valued at $500,788 in the last ninety days. Insiders own 20.59% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in shares of Artesian Resources in the 1st quarter worth approximately $40,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Artesian Resources in the 3rd quarter worth approximately $84,000. Citigroup Inc. lifted its holdings in shares of Artesian Resources by 120.9% in the 4th quarter. Citigroup Inc. now owns 2,054 shares of the utilities provider’s stock worth $95,000 after acquiring an additional 1,124 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Artesian Resources by 37.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,855 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 777 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Artesian Resources by 219.9% in the 3rd quarter. Barclays PLC now owns 3,327 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 2,287 shares during the last quarter. 45.75% of the stock is owned by institutional investors and hedge funds.

About Artesian Resources (Get Rating)

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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