Insider Selling: Artesian Resources Co. (ARTNA) Director Sells 2,255 Shares of Stock
Artesian Resources Co. (NASDAQ:ARTNA) Director William C. Wyer sold 2,255 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $37.60, for a total transaction of $84,788.00. Following the transaction, the director now directly owns 17,755 shares in the company, valued at $667,588. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Artesian Resources Co. (NASDAQ:ARTNA) traded down 0.53% during trading on Wednesday, hitting $37.36. 46,656 shares of the stock were exchanged. The stock’s 50 day moving average price is $36.32 and its 200-day moving average price is $32.76. The company has a market cap of $341.66 million, a price-to-earnings ratio of 25.94 and a beta of 0.17. Artesian Resources Co. has a one year low of $26.06 and a one year high of $40.40.
Artesian Resources (NASDAQ:ARTNA) last issued its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by $0.01. Artesian Resources had a return on equity of 8.99% and a net margin of 15.39%. The company had revenue of $19.19 million during the quarter. On average, analysts predict that Artesian Resources Co. will post $1.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Monday, May 15th will be issued a $0.2317 dividend. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.23. This represents a $0.93 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, May 11th. Artesian Resources’s dividend payout ratio is currently 68.42%.
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Institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of Artesian Resources by 79.3% in the first quarter. Bank of America Corp DE now owns 3,823 shares of the utilities provider’s stock valued at $124,000 after buying an additional 1,691 shares in the last quarter. American International Group Inc. raised its position in shares of Artesian Resources by 7.4% in the first quarter. American International Group Inc. now owns 4,785 shares of the utilities provider’s stock valued at $156,000 after buying an additional 329 shares in the last quarter. Bank of Montreal Can raised its position in shares of Artesian Resources by 229.2% in the first quarter. Bank of Montreal Can now owns 6,686 shares of the utilities provider’s stock valued at $218,000 after buying an additional 4,655 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Artesian Resources during the first quarter valued at approximately $242,000. Finally, ClariVest Asset Management LLC bought a new position in shares of Artesian Resources during the first quarter valued at approximately $269,000. Hedge funds and other institutional investors own 37.21% of the company’s stock.
A number of brokerages have recently commented on ARTNA. Hilliard Lyons lowered shares of Artesian Resources from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research report on Thursday, May 4th. Zacks Investment Research raised shares of Artesian Resources from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Thursday, February 9th.
Artesian Resources Company Profile
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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