Artesian Resources Co. (NASDAQ:ARTNA) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Artesian Resources Co. (NASDAQ:ARTNA) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,766 shares of the utilities provider’s stock after buying an additional 12,396 shares during the period. Bank of New York Mellon Corp’s holdings in Artesian Resources were worth $2,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Artesian Resources during the fourth quarter valued at approximately $63,000. JPMorgan Chase & Co. boosted its stake in Artesian Resources by 169.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,035 shares of the utilities provider’s stock worth $596,000 after purchasing an additional 10,089 shares during the period. Geode Capital Management LLC lifted its stake in Artesian Resources by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 110,317 shares of the utilities provider’s stock worth $4,104,000 after acquiring an additional 2,225 shares in the last quarter. State Street Corp lifted its position in Artesian Resources by 0.6% in the 3rd quarter. State Street Corp now owns 66,146 shares of the utilities provider’s stock worth $2,459,000 after buying an additional 384 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Artesian Resources in the third quarter valued at about $289,000. 57.37% of the stock is owned by institutional investors and hedge funds.

Artesian Resources Price Performance

NASDAQ ARTNA opened at $31.36 on Friday. Artesian Resources Co. has a 12-month low of $29.45 and a 12-month high of $41.29. The company has a 50 day moving average price of $31.37 and a two-hundred day moving average price of $33.50. The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $322.95 million, a PE ratio of 16.08 and a beta of 0.19.

Artesian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $0.3014 per share. The ex-dividend date was Friday, February 7th. This represents a $1.21 dividend on an annualized basis and a yield of 3.84%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. Artesian Resources’s dividend payout ratio is presently 61.54%.

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.