California State Teachers Retirement System cut its stake in shares of Artesian Resources Co. (NASDAQ:ARTNA) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,880 shares of the utilities provider’s stock after selling 1,700 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Artesian Resources worth $522,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Artesian Resources by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,415 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 235 shares during the period. State Street Corp lifted its stake in shares of Artesian Resources by 5.0% in the 2nd quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock valued at $6,819,000 after purchasing an additional 8,679 shares during the period. Numeric Investors LLC acquired a new position in shares of Artesian Resources in the 2nd quarter valued at about $336,000. Dimensional Fund Advisors LP lifted its stake in shares of Artesian Resources by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 217,338 shares of the utilities provider’s stock valued at $8,181,000 after purchasing an additional 17,048 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Artesian Resources by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock valued at $13,906,000 after purchasing an additional 3,541 shares during the period. 40.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the company. Zacks Investment Research downgraded Artesian Resources from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. BidaskClub downgraded Artesian Resources from a “hold” rating to a “sell” rating in a research note on Friday, August 11th.
Artesian Resources Co. (NASDAQ ARTNA) opened at $39.68 on Thursday. Artesian Resources Co. has a 52 week low of $29.36 and a 52 week high of $43.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.64 and a current ratio of 0.71. The firm has a market capitalization of $369.89, a P/E ratio of 28.54 and a beta of 0.09.
Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Artesian Resources had a return on equity of 9.18% and a net margin of 15.96%. The firm had revenue of $22.36 million for the quarter. analysts anticipate that Artesian Resources Co. will post 1.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 13th were paid a dividend of $0.2352 per share. This is an increase from Artesian Resources’s previous quarterly dividend of $0.23. This represents a $0.94 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Friday, November 10th. Artesian Resources’s dividend payout ratio is 66.67%.
In other Artesian Resources news, Director William C. Wyer sold 6,750 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total transaction of $283,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dian C. Taylor sold 8,798 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $42.36, for a total value of $372,683.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,548 shares of company stock worth $734,283. 20.59% of the stock is owned by company insiders.
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About Artesian Resources
Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.
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