The Manufacturers Life Insurance Company Acquires 235 Shares of Artesian Resources Co. (ARTNA)

The Manufacturers Life Insurance Company raised its holdings in Artesian Resources Co. (NASDAQ:ARTNA) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,415 shares of the utilities provider’s stock after purchasing an additional 235 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Artesian Resources worth $279,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp boosted its holdings in Artesian Resources by 5.0% in the 2nd quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock valued at $6,819,000 after purchasing an additional 8,679 shares during the period. Numeric Investors LLC bought a new stake in shares of Artesian Resources during the 2nd quarter worth approximately $336,000. Dimensional Fund Advisors LP lifted its holdings in shares of Artesian Resources by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 217,338 shares of the utilities provider’s stock worth $8,181,000 after acquiring an additional 17,048 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Artesian Resources by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock worth $13,906,000 after acquiring an additional 3,541 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Artesian Resources by 8.4% during the 2nd quarter. Northern Trust Corp now owns 114,661 shares of the utilities provider’s stock worth $4,316,000 after acquiring an additional 8,857 shares during the period. 40.34% of the stock is owned by hedge funds and other institutional investors.

Shares of Artesian Resources Co. (NASDAQ ARTNA) opened at $40.24 on Wednesday. Artesian Resources Co. has a twelve month low of $29.36 and a twelve month high of $43.22. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 0.73. The firm has a market cap of $385.97, a P/E ratio of 29.78 and a beta of 0.09.

Artesian Resources (NASDAQ:ARTNA) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). Artesian Resources had a return on equity of 9.18% and a net margin of 15.96%. The firm had revenue of $22.36 million for the quarter. research analysts forecast that Artesian Resources Co. will post 1.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 13th were given a dividend of $0.2352 per share. This represents a $0.94 dividend on an annualized basis and a yield of 2.34%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, November 10th. Artesian Resources’s dividend payout ratio is currently 66.67%.

In related news, Director William C. Wyer sold 6,750 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $42.00, for a total transaction of $283,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dian C. Taylor sold 8,798 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $42.36, for a total transaction of $372,683.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,548 shares of company stock valued at $734,283. 20.59% of the stock is owned by corporate insiders.

ARTNA has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Artesian Resources from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Zacks Investment Research downgraded shares of Artesian Resources from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th.

TRADEMARK VIOLATION NOTICE: “The Manufacturers Life Insurance Company Acquires 235 Shares of Artesian Resources Co. (ARTNA)” was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at https://www.chaffeybreeze.com/2017/12/06/the-manufacturers-life-insurance-company-acquires-235-shares-of-artesian-resources-co-artna.html.

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.

Want to see what other hedge funds are holding ARTNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Artesian Resources Co. (NASDAQ:ARTNA).

Institutional Ownership by Quarter for Artesian Resources (NASDAQ:ARTNA)

Receive News & Ratings for Artesian Resources Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Artesian Resources Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply