Teton Advisors LLC Makes New $1.02 Million Investment in Artesian Resources Corporation $ARTNA

Teton Advisors LLC purchased a new position in Artesian Resources Corporation (NASDAQ:ARTNA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,320 shares of the utilities provider’s stock, valued at approximately $1,021,000. Teton Advisors LLC owned 0.30% of Artesian Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. acquired a new position in shares of Artesian Resources during the second quarter worth $5,034,000. Prospera Financial Services Inc acquired a new position in shares of Artesian Resources in the 2nd quarter worth approximately $2,034,000. CSM Advisors LLC bought a new stake in Artesian Resources during the second quarter valued at $1,005,000. Jane Street Group LLC grew its stake in Artesian Resources by 129.0% during the first quarter. Jane Street Group LLC now owns 37,508 shares of the utilities provider’s stock worth $1,225,000 after purchasing an additional 21,127 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Artesian Resources by 14.3% in the 2nd quarter. Legal & General Group Plc now owns 142,048 shares of the utilities provider’s stock valued at $4,767,000 after acquiring an additional 17,752 shares in the last quarter. 57.37% of the stock is owned by institutional investors.

Artesian Resources Price Performance

Shares of NASDAQ:ARTNA opened at $33.73 on Friday. The company has a 50-day moving average price of $33.07 and a two-hundred day moving average price of $32.65. The firm has a market capitalization of $347.76 million, a PE ratio of 15.40 and a beta of 0.36. Artesian Resources Corporation has a twelve month low of $30.50 and a twelve month high of $36.19. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 0.70.

Artesian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were given a dividend of $0.3136 per share. This represents a $1.25 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, February 13th. Artesian Resources’s payout ratio is presently 57.08%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Artesian Resources in a research report on Wednesday, January 21st. Zacks Research raised Artesian Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Artesian Resources presently has an average rating of “Hold”.

About Artesian Resources

Artesian Resources Corporation (NASDAQ: ARTNA) is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.

Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.