AT Bancorp Invests $188,000 in Artesian Resources Corporation (NASDAQ:ARTNA)

AT Bancorp purchased a new position in Artesian Resources Corporation (NASDAQ:ARTNA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,000 shares of the utilities provider’s stock, valued at approximately $188,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARTNA. Water Asset Management LLC raised its position in shares of Artesian Resources Corporation by 899.1% in the first quarter. Water Asset Management LLC now owns 86,871 shares of the utilities provider’s stock worth $2,829,000 after buying an additional 78,176 shares during the period. Dalton Greiner Hartman Maher & Co. raised its position in shares of Artesian Resources Corporation by 8.2% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 57,943 shares of the utilities provider’s stock worth $1,887,000 after buying an additional 4,404 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Artesian Resources Corporation by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 192,170 shares of the utilities provider’s stock worth $6,138,000 after buying an additional 7,779 shares during the period. Bank of New York Mellon Corp raised its position in shares of Artesian Resources Corporation by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 100,194 shares of the utilities provider’s stock worth $3,262,000 after buying an additional 5,337 shares during the period. Finally, Renaissance Technologies LLC raised 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 during the period. Institutional investors own 40.32% of the company’s stock.

Shares of Artesian Resources Corporation (NASDAQ ARTNA) opened at 37.59 on Thursday. Artesian Resources Corporation has a one year low of $26.28 and a one year high of $41.90. The stock has a 50 day moving average price of $38.28 and a 200 day moving average price of $35.73. The firm has a market cap of $344.44 million, a price-to-earnings ratio of 25.75 and a beta of 0.10.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 14th will be given a $0.2317 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.93 dividend on an annualized basis and a yield of 2.47%. Artesian Resources Corporation’s payout ratio is 63.27%.

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Several brokerages have recently weighed in on ARTNA. Hilliard Lyons lowered Artesian Resources Corporation from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Thursday, May 4th. Zacks Investment Research lowered Artesian Resources Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, BidaskClub upgraded Artesian Resources Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th.

In other Artesian Resources Corporation news, Director John R. Eisenbrey, Jr. sold 13,500 shares of the 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 transaction, the director now directly owns 54,501 shares in the company, valued at approximately $2,212,195.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholle Renee Taylor sold 2,770 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $40.13, for a total value of $111,160.10. Following the completion of the transaction, the director now owns 6,979 shares in the company, valued at $280,067.27. The disclosure for this sale can be found here. Insiders sold a total of 25,905 shares of company stock worth $1,039,757 over the last quarter. Corporate insiders own 20.59% 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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Institutional Ownership by Quarter for Artesian Resources Corporation (NASDAQ:ARTNA)

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