Strs Ohio Sells 1,800 Shares of Artesian Resources Co. (NASDAQ:ARTNA)

Strs Ohio lessened its position in shares of Artesian Resources Co. (NASDAQ:ARTNA – Get Rating) by 13.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,700 shares of the utilities provider’s stock after selling 1,800 shares during the period. Strs Ohio owned approximately 0.12% of Artesian Resources worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank purchased a new position in shares of Artesian Resources in the first quarter worth approximately $48,000. SeaCrest Wealth Management LLC purchased a new position in Artesian Resources during the second quarter worth $54,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Artesian Resources during the second quarter valued at $84,000. FMR LLC lifted its stake in Artesian Resources by 24.4% in the second quarter. FMR LLC now owns 3,416 shares of the utilities provider’s stock worth $168,000 after acquiring an additional 670 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in Artesian Resources by 26.4% in the second quarter. BNP Paribas Arbitrage SA now owns 3,473 shares of the utilities provider’s stock worth $171,000 after acquiring an additional 726 shares during the period. Hedge funds and other institutional investors own 49.19% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Artesian Resources in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Insider Activity

In other news, Director Kenneth R. Biederman sold 3,396 shares of Artesian Resources stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $53.08, for a total value of $180,259.68. Following the completion of the transaction, the director now owns 22,875 shares in the company, valued at approximately $1,214,205. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Dian C. Taylor sold 4,768 shares of the firm’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $55.58, for a total transaction of $265,005.44. Following the sale, the insider now owns 105,021 shares of the company’s stock, valued at approximately $5,837,067.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth R. Biederman sold 3,396 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $53.08, for a total value of $180,259.68. Following the sale, the director now directly owns 22,875 shares in the company, valued at approximately $1,214,205. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,293 shares of company stock worth $508,058. 20.59% of the stock is currently owned by company insiders.

Artesian Resources Stock Down 2.4 %

NASDAQ ARTNA opened at $59.57 on Thursday. Artesian Resources Co. has a one year low of $43.84 and a one year high of $61.51. The company has a market cap of $565.38 million, a P/E ratio of 30.24 and a beta of 0.16. The business has a fifty day moving average price of $56.19 and a 200 day moving average price of $53.57. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.62 and a current ratio of 0.70.

Artesian Resources (NASDAQ:ARTNA – Get Rating) last announced its earnings results on Thursday, November 3rd. The utilities provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Artesian Resources had a return on equity of 10.30% and a net margin of 19.44%. The company had revenue of $26.58 million during the quarter, compared to analysts’ expectations of $26.00 million. Research analysts anticipate that Artesian Resources Co. will post 1.93 EPS for the current fiscal year.

Artesian Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Monday, November 14th were issued a dividend of $0.2784 per share. This represents a $1.11 dividend on an annualized basis and a yield of 1.87%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 10th. Artesian Resources’s dividend payout ratio (DPR) is 56.35%.

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.