John R. Eisenbrey, Jr. Sells 13,500 Shares of Artesian Resources Corporation (ARTNA) Stock
Artesian Resources Corporation (NASDAQ:ARTNA) Director John R. Eisenbrey, Jr. sold 13,500 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $40.59, for a total value of $547,965.00. Following the completion of the sale, the director now directly owns 54,501 shares of the company’s stock, valued at $2,212,195.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Artesian Resources Corporation (ARTNA) traded down 0.20% during mid-day trading on Tuesday, hitting $39.95. The company’s stock had a trading volume of 1,062 shares. The stock has a 50-day moving average of $37.67 and a 200-day moving average of $34.04. Artesian Resources Corporation has a 12-month low of $26.28 and a 12-month high of $41.90. The company has a market cap of $365.34 million, a PE ratio of 27.74 and a beta of 0.19.
Artesian Resources Corporation (NASDAQ:ARTNA) last posted its earnings results on Wednesday, May 3rd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. Artesian Resources Corporation had a net margin of 16.55% and a return on equity of 9.59%. The company had revenue of $19.19 million during the quarter. On average, equities research analysts forecast that Artesian Resources Corporation will post $1.49 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Monday, May 15th were paid a $0.2317 dividend. The ex-dividend date was Thursday, May 11th. This represents a $0.93 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from Artesian Resources Corporation’s previous quarterly dividend of $0.23. Artesian Resources Corporation’s dividend payout ratio (DPR) is 64.14%.
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ARTNA has been the subject of a number of recent research reports. Zacks Investment Research downgraded Artesian Resources Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Hilliard Lyons downgraded Artesian Resources Corporation from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Thursday, May 4th.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Artesian Resources Corporation by 0.7% in the first quarter. Vanguard Group Inc. now owns 365,893 shares of the utilities provider’s stock worth $11,914,000 after buying an additional 2,417 shares during the period. 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 worth $9,205,000 after buying an additional 17,400 shares in the last quarter. First Manhattan Co. increased its position in shares of Artesian Resources Corporation by 5.9% in the first quarter. First Manhattan Co. now owns 256,823 shares of the utilities provider’s stock worth $7,329,000 after buying an additional 14,250 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 worth $6,521,000 after buying an additional 8,120 shares in the last quarter. Finally, State Street Corp increased its position in shares of Artesian Resources Corporation by 2.1% in the fourth quarter. State Street Corp now owns 174,038 shares of the utilities provider’s stock worth $5,558,000 after buying an additional 3,529 shares in the last quarter. Institutional investors and hedge funds own 39.82% of the company’s stock.
About Artesian Resources Corporation
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.
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