Roffman Miller Associates Inc. PA Decreases Position in Artesian Resources Co. (NASDAQ:ARTNA)

Roffman Miller Associates Inc. PA cut its position in Artesian Resources Co. (NASDAQ:ARTNA) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 92,164 shares of the utilities provider’s stock after selling 5,115 shares during the period. Roffman Miller Associates Inc. PA’s holdings in Artesian Resources were worth $3,820,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Raymond James & Associates grew its stake in shares of Artesian Resources by 6.7% in the third quarter. Raymond James & Associates now owns 6,318 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 398 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Artesian Resources by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 96,697 shares of the utilities provider’s stock worth $4,060,000 after acquiring an additional 1,185 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Artesian Resources by 64.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,012 shares of the utilities provider’s stock worth $84,000 after acquiring an additional 787 shares during the period. Quantbot Technologies LP grew its position in Artesian Resources by 153.5% during the third quarter. Quantbot Technologies LP now owns 1,478 shares of the utilities provider’s stock valued at $62,000 after buying an additional 895 shares during the period. Finally, Swiss National Bank grew its position in Artesian Resources by 11.3% during the third quarter. Swiss National Bank now owns 20,650 shares of the utilities provider’s stock valued at $867,000 after buying an additional 2,100 shares during the period. 57.37% of the stock is owned by hedge funds and other institutional investors.

Artesian Resources Stock Performance

Shares of ARTNA remained flat at $34.52 during mid-day trading on Friday. 9,926 shares of the company’s stock were exchanged, compared to its average volume of 36,550. The firm has a market capitalization of $355.21 million, a price-to-earnings ratio of 20.80 and a beta of 0.18. Artesian Resources Co. has a fifty-two week low of $33.42 and a fifty-two week high of $56.25. The business’s 50 day moving average price is $35.46 and its two-hundred day moving average price is $38.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.37.

Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings results on Wednesday, March 13th. The utilities provider reported $0.34 earnings per share for the quarter. The business had revenue of $24.55 million during the quarter. Artesian Resources had a net margin of 16.89% and a return on equity of 7.62%. On average, research analysts forecast that Artesian Resources Co. will post 1.99 EPS for the current fiscal year.

Artesian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Thursday, February 8th. Artesian Resources’s dividend payout ratio (DPR) is presently 69.88%.

Analyst Ratings Changes

ARTNA has been the subject of several recent research reports. StockNews.com upgraded shares of Artesian Resources from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. TheStreet lowered shares of Artesian Resources from a “b-” rating to a “c+” rating in a research report on Monday, February 5th.

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.