Atom Investors LP Decreases Stake in Artesian Resources Co. (NASDAQ:ARTNA)

Atom Investors LP lowered its stake in Artesian Resources Co. (NASDAQ:ARTNA - Free Report) by 21.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,805 shares of the utilities provider's stock after selling 15,846 shares during the quarter. Atom Investors LP owned about 0.56% of Artesian Resources worth $2,149,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Millennium Management LLC acquired a new position in Artesian Resources during the 2nd quarter worth about $6,220,000. Cubist Systematic Strategies LLC purchased a new position in shares of Artesian Resources in the second quarter valued at approximately $2,856,000. Marshall Wace LLP acquired a new position in shares of Artesian Resources in the second quarter valued at approximately $1,032,000. Foundry Partners LLC lifted its holdings in Artesian Resources by 12.2% during the 3rd quarter. Foundry Partners LLC now owns 143,470 shares of the utilities provider's stock worth $5,334,000 after buying an additional 15,580 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in Artesian Resources in the 2nd quarter valued at approximately $539,000. Hedge funds and other institutional investors own 57.37% of the company's stock.

Artesian Resources Stock Down 0.3 %

Shares of ARTNA stock traded down $0.09 during trading hours on Tuesday, reaching $33.92. 6,740 shares of the stock were exchanged, compared to its average volume of 48,344. The business's fifty day moving average is $35.15 and its two-hundred day moving average is $36.37. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.22 and a quick ratio of 1.07. Artesian Resources Co. has a 12-month low of $32.93 and a 12-month high of $44.78. The firm has a market capitalization of $349.38 million, a P/E ratio of 17.45 and a beta of 0.22.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. The business had revenue of $29.14 million for the quarter, compared to analysts' expectations of $29.00 million. Artesian Resources had a net margin of 18.96% and a return on equity of 8.57%. As a group, research analysts expect that Artesian Resources Co. will post 1.92 EPS for the current fiscal year.

Artesian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 15th were given a dividend of $0.301 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.55%. This is a boost from Artesian Resources's previous quarterly dividend of $0.30. The ex-dividend date was Friday, November 15th. Artesian Resources's dividend payout ratio (DPR) is presently 62.05%.

Artesian Resources Profile

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.