Dimensional Fund Advisors LP Trims Position in Artesian Resources Co. (NASDAQ:ARTNA)

Dimensional Fund Advisors LP lessened its stake in Artesian Resources Co. (NASDAQ:ARTNA) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 225,400 shares of the utilities provider’s stock after selling 7,613 shares during the period. Dimensional Fund Advisors LP owned 2.19% of Artesian Resources worth $7,925,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in shares of Artesian Resources in the 1st quarter valued at about $41,000. Quest Partners LLC purchased a new position in Artesian Resources during the 2nd quarter worth approximately $42,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Artesian Resources during the 1st quarter valued at approximately $161,000. Cullen Capital Management LLC increased its holdings in shares of Artesian Resources by 7.3% during the 4th quarter. Cullen Capital Management LLC now owns 5,162 shares of the utilities provider’s stock valued at $214,000 after purchasing an additional 350 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Artesian Resources by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,447 shares of the utilities provider’s stock valued at $351,000 after purchasing an additional 382 shares in the last quarter. 57.37% of the stock is currently owned by institutional investors.

Artesian Resources Price Performance

Artesian Resources stock opened at $35.37 on Tuesday. The company’s fifty day moving average price is $36.93 and its 200 day moving average price is $36.81. Artesian Resources Co. has a 1 year low of $33.34 and a 1 year high of $44.78. The stock has a market capitalization of $363.89 million, a P/E ratio of 20.81 and a beta of 0.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.09 and a current ratio of 1.30.

Artesian Resources (NASDAQ:ARTNA) last announced its earnings results on Monday, August 5th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.02). The business had revenue of $27.42 million for the quarter, compared to analyst estimates of $27.00 million. Artesian Resources had a return on equity of 7.90% and a net margin of 17.74%. As a group, equities research analysts anticipate that Artesian Resources Co. will post 1.92 earnings per share for the current fiscal year.

Artesian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Friday, August 16th were issued a $0.296 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.18 annualized dividend and a yield of 3.35%. Artesian Resources’s dividend payout ratio (DPR) is currently 69.41%.

About Artesian Resources

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.