Bank of New York Mellon Corp Purchases 12,396 Shares of Artesian Resources Co. (NASDAQ:ARTNA)

Bank of New York Mellon Corp boosted its stake in Artesian Resources Co. (NASDAQ:ARTNA - Free Report) by 16.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,766 shares of the utilities provider's stock after buying an additional 12,396 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.83% of Artesian Resources worth $2,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Artesian Resources by 0.6% in the 3rd quarter. State Street Corp now owns 66,146 shares of the utilities provider's stock worth $2,459,000 after acquiring an additional 384 shares during the last quarter. Atria Investments Inc lifted its position in Artesian Resources by 7.1% during the third quarter. Atria Investments Inc now owns 6,527 shares of the utilities provider's stock valued at $243,000 after purchasing an additional 431 shares during the last quarter. R Squared Ltd purchased a new position in Artesian Resources in the 4th quarter worth approximately $63,000. Geode Capital Management LLC grew its position in Artesian Resources by 2.1% in the third quarter. Geode Capital Management LLC now owns 110,317 shares of the utilities provider's stock worth $4,104,000 after acquiring an additional 2,225 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Artesian Resources in the 3rd quarter worth about $289,000. Hedge funds and other institutional investors own 57.37% of the company's stock.

Artesian Resources Price Performance

Shares of NASDAQ ARTNA traded up $0.22 during trading hours on Monday, reaching $30.93. 54,719 shares of the stock traded hands, compared to its average volume of 48,654. The company has a market capitalization of $318.52 million, a P/E ratio of 15.86 and a beta of 0.19. The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.74. Artesian Resources Co. has a 52-week low of $29.45 and a 52-week high of $41.29. The company's 50-day simple moving average is $31.39 and its two-hundred day simple moving average is $33.43.

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Artesian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a $0.3014 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, February 7th. This is a boost from Artesian Resources's previous quarterly dividend of $0.30. Artesian Resources's dividend payout ratio (DPR) is presently 61.54%.

About Artesian Resources

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.