Artesian Resources Co. (NASDAQ:ARTNA) declared a quarterly dividend on Thursday, August 3rd, Wall Street Journal reports. Stockholders of record on Monday, August 14th will be paid a dividend of 0.2317 per share by the utilities provider on Friday, August 25th. This represents a $0.93 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, August 10th.
Shares of Artesian Resources (NASDAQ:ARTNA) traded down 3.41% on Friday, hitting $36.01. The stock had a trading volume of 27,070 shares. The firm has a 50-day moving average price of $38.17 and a 200-day moving average price of $35.77. Artesian Resources has a 52 week low of $26.28 and a 52 week high of $41.90. The stock has a market capitalization of $330.86 million, a P/E ratio of 24.66 and a beta of 0.10.
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Several brokerages have recently issued reports on ARTNA. BidaskClub raised Artesian Resources from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Hilliard Lyons cut Artesian Resources 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. Finally, Zacks Investment Research cut Artesian Resources from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th.
In related news, Director John R. Eisenbrey, Jr. sold 13,500 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $40.59, for a total value of $547,965.00. Following the completion of the transaction, the director now owns 54,501 shares of the company’s stock, valued at approximately $2,212,195.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dian C. Taylor sold 4,702 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $40.08, for a total value of $188,456.16. Following the completion of the transaction, the insider now directly owns 97,152 shares of the company’s stock, valued at approximately $3,893,852.16. The disclosure for this sale can be found here. In the last three months, insiders sold 25,905 shares of company stock valued at $1,039,757. Insiders own 20.59% of the company’s stock.
About Artesian Resources
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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