Teton Advisors LLC Buys New Holdings in Artesian Resources Corporation $ARTNA

Teton Advisors LLC acquired a new stake in shares of Artesian Resources Corporation (NASDAQ:ARTNA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,320 shares of the utilities provider’s stock, valued at approximately $1,021,000.

A number of other hedge funds also recently bought and sold shares of ARTNA. Jones Financial Companies Lllp increased its position in shares of Artesian Resources by 985.2% during the first quarter. Jones Financial Companies Lllp now owns 2,713 shares of the utilities provider’s stock valued at $89,000 after buying an additional 2,463 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Artesian Resources by 10.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 72,289 shares of the utilities provider’s stock worth $2,360,000 after purchasing an additional 6,956 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Artesian Resources by 129.0% in the 1st quarter. Jane Street Group LLC now owns 37,508 shares of the utilities provider’s stock worth $1,225,000 after purchasing an additional 21,127 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Artesian Resources in the 2nd quarter worth approximately $2,034,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Artesian Resources by 24.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,547 shares of the utilities provider’s stock worth $1,260,000 after buying an additional 7,402 shares during the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ARTNA shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Artesian Resources in a research report on Wednesday, January 21st. Zacks Research upgraded Artesian Resources from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Artesian Resources Price Performance

Shares of ARTNA opened at $33.73 on Friday. The company has a market capitalization of $347.76 million, a P/E ratio of 15.40 and a beta of 0.36. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $33.07 and a 200 day moving average of $32.65. Artesian Resources Corporation has a twelve month low of $30.50 and a twelve month high of $36.19.

Artesian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 13th were paid a dividend of $0.3136 per share. This represents a $1.25 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, February 13th. Artesian Resources’s dividend payout ratio (DPR) is currently 57.08%.

About Artesian Resources

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.