Artesian Resources Corporation (NASDAQ:ARTNA – Get Free Report) announced a quarterly dividend on Thursday, August 6th. Stockholders of record on Monday, August 17th will be paid a dividend of 0.3199 per share by the utilities provider on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, August 17th.
Artesian Resources has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 8 years. Artesian Resources has a payout ratio of 57.9% meaning its dividend is sufficiently covered by earnings.
Artesian Resources Trading Up 0.8%
Shares of ARTNA stock opened at $34.66 on Friday. Artesian Resources has a twelve month low of $30.50 and a twelve month high of $35.49. The stock’s fifty day simple moving average is $33.57 and its 200 day simple moving average is $32.94. The company has a quick ratio of 0.89, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $357.69 million, a P/E ratio of 15.14 and a beta of 0.33.
Hedge Funds Weigh In On Artesian Resources
A number of institutional investors and hedge funds have recently modified their holdings of ARTNA. Northwestern Mutual Wealth Management Co. raised its position in Artesian Resources by 344,107.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 326,997 shares of the utilities provider’s stock valued at $10,336,000 after buying an additional 326,902 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Artesian Resources during the 2nd quarter worth $5,034,000. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Artesian Resources in the 3rd quarter worth $3,048,000. Renaissance Technologies LLC grew its stake in shares of Artesian Resources by 15.1% in the 1st quarter. Renaissance Technologies LLC now owns 320,456 shares of the utilities provider’s stock worth $10,207,000 after acquiring an additional 42,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Artesian Resources by 372.4% in the first quarter. Assenagon Asset Management S.A. now owns 45,310 shares of the utilities provider’s stock valued at $1,443,000 after purchasing an additional 35,718 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors.
Artesian Resources Company Profile
Artesian Resources Corporation (NASDAQ: ARTNA) is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.
Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.
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