Strs Ohio raised its stake in Artesian Resources Corporation (NASDAQ:ARTNA) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,000 shares of the utilities provider’s stock after buying an additional 500 shares during the period. Strs Ohio owned about 0.10% of Artesian Resources Corporation worth $338,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ARTNA. Vanguard Group Inc. increased its position in shares of Artesian Resources Corporation by 0.7% in the first quarter. Vanguard Group Inc. now owns 365,893 shares of the utilities provider’s stock valued at $11,914,000 after buying an additional 2,417 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Artesian Resources Corporation by 6.6% in the first quarter. Renaissance Technologies LLC now owns 282,700 shares of the utilities provider’s stock valued at $9,205,000 after buying an additional 17,400 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Artesian Resources Corporation by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 200,290 shares of the utilities provider’s stock valued at $6,521,000 after buying an additional 8,120 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Artesian Resources Corporation by 2.6% in the first quarter. Geode Capital Management LLC now owns 110,162 shares of the utilities provider’s stock valued at $3,586,000 after buying an additional 2,784 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Artesian Resources Corporation by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 100,194 shares of the utilities provider’s stock valued at $3,262,000 after buying an additional 5,337 shares in the last quarter. Institutional investors own 39.87% of the company’s stock.

Shares of Artesian Resources Corporation (ARTNA) opened at 36.85 on Thursday. The company has a market capitalization of $338.58 million, a P/E ratio of 25.24 and a beta of 0.10. Artesian Resources Corporation has a 1-year low of $26.28 and a 1-year high of $41.90. The company has a 50-day moving average price of $37.74 and a 200 day moving average price of $36.14.

The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 14th were issued a $0.2317 dividend. This represents a $0.93 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, August 10th. Artesian Resources Corporation’s dividend payout ratio is currently 63.27%.

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Several analysts recently issued reports on the company. Zacks Investment Research downgraded Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. BidaskClub downgraded Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Hilliard Lyons downgraded Artesian Resources Corporation from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Thursday, May 4th.

In related news, insider Dian C. Taylor sold 4,702 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $40.08, for a total value of $188,456.16. Following the completion of the transaction, the insider now owns 97,152 shares of the company’s stock, valued at approximately $3,893,852.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nicholle Renee Taylor sold 2,770 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $40.13, for a total transaction of $111,160.10. Following the completion of the transaction, the director now directly owns 6,979 shares of the company’s stock, valued at approximately $280,067.27. The disclosure for this sale can be found here. Insiders sold a total of 23,650 shares of company stock valued at $954,969 in the last ninety days. 20.59% of the stock is currently owned by insiders.

Artesian Resources Corporation 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.

Institutional Ownership by Quarter for Artesian Resources Corporation (NASDAQ:ARTNA)

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