Foundry Partners LLC Has $5.33 Million Stock Position in Artesian Resources Co. (NASDAQ:ARTNA)

Foundry Partners LLC increased its holdings in shares of Artesian Resources Co. (NASDAQ:ARTNA - Free Report) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 143,470 shares of the utilities provider's stock after buying an additional 15,580 shares during the quarter. Foundry Partners LLC owned 1.39% of Artesian Resources worth $5,334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in Artesian Resources in the 1st quarter worth $41,000. Quest Partners LLC bought a new stake in shares of Artesian Resources in the second quarter valued at about $42,000. Point72 DIFC Ltd acquired a new position in shares of Artesian Resources during the second quarter worth about $50,000. State Board of Administration of Florida Retirement System bought a new position in shares of Artesian Resources during the first quarter worth about $161,000. Finally, Ballentine Partners LLC acquired a new stake in Artesian Resources in the 3rd quarter valued at approximately $217,000. 57.37% of the stock is currently owned by institutional investors.

Artesian Resources Stock Up 1.2 %

Shares of NASDAQ ARTNA traded up $0.41 during mid-day trading on Friday, hitting $34.33. The company had a trading volume of 41,135 shares, compared to its average volume of 48,905. Artesian Resources Co. has a one year low of $32.93 and a one year high of $44.78. The company has a market capitalization of $353.53 million, a PE ratio of 17.61 and a beta of 0.21. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74. The firm has a 50-day simple moving average of $35.52 and a two-hundred day simple moving average of $36.64.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. Artesian Resources had a net margin of 18.96% and a return on equity of 8.57%. The firm had revenue of $29.14 million for the quarter, compared to analyst estimates of $29.00 million. On average, equities analysts expect that Artesian Resources Co. will post 1.92 EPS for the current year.

Artesian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be given a dividend of $0.301 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.51%. This is a boost from Artesian Resources's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, November 15th. Artesian Resources's payout ratio is 61.54%.

Artesian Resources Company 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.