BidaskClub upgraded shares of Artesian Resources (NASDAQ:ARTNA) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.
Separately, Zacks Investment Research raised Artesian Resources from a sell rating to a hold rating in a research report on Tuesday, January 9th.
Artesian Resources (ARTNA) opened at $34.45 on Friday. Artesian Resources has a 12-month low of $30.09 and a 12-month high of $43.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.64. The company has a market capitalization of $322.18, a P/E ratio of 24.43 and a beta of 0.05.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be given a dividend of $0.2352 per share. This represents a $0.94 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, February 8th. Artesian Resources’s dividend payout ratio is currently 66.67%.
In related news, Director William C. Wyer sold 6,750 shares of the 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 filing with the SEC, which is accessible through this link. Also, insider Dian C. Taylor sold 8,798 shares of the 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. Insiders have sold 17,548 shares of company stock worth $734,283 in the last three months. 20.59% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of ARTNA. Cornerstone Capital Management Holdings LLC. grew its position in Artesian Resources by 139.7% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 2,917 shares of the utilities provider’s stock worth $109,000 after buying an additional 1,700 shares in the last quarter. Citigroup Inc. grew its position in Artesian Resources by 543.1% during the second quarter. Citigroup Inc. now owns 3,640 shares of the utilities provider’s stock worth $137,000 after buying an additional 3,074 shares in the last quarter. Trustcore Financial Services LLC bought a new stake in Artesian Resources during the fourth quarter worth $143,000. OxFORD Asset Management LLP bought a new stake in Artesian Resources during the third quarter worth $208,000. Finally, Alliancebernstein L.P. bought a new stake in Artesian Resources during the second quarter worth $215,000. 38.53% of the stock is currently owned by institutional investors and hedge funds.
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Artesian Resources Company Profile
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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