Connor Clark & Lunn Investment Management Ltd. Acquires 11,502 Shares of Artesian Resources Co. (NASDAQ:ARTNA)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Artesian Resources Co. (NASDAQ:ARTNA) by 103.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,598 shares of the utilities provider’s stock after purchasing an additional 11,502 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.22% of Artesian Resources worth $715,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Foundry Partners LLC raised its stake in Artesian Resources by 12.2% during the 3rd quarter. Foundry Partners LLC now owns 143,470 shares of the utilities provider’s stock worth $5,334,000 after buying an additional 15,580 shares during the period. Geode Capital Management LLC raised its stake in Artesian Resources by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 110,317 shares of the utilities provider’s stock worth $4,104,000 after buying an additional 2,225 shares during the period. Bank of New York Mellon Corp raised its stake in Artesian Resources by 16.9% during the 4th quarter. Bank of New York Mellon Corp now owns 85,766 shares of the utilities provider’s stock worth $2,712,000 after buying an additional 12,396 shares during the period. State Street Corp raised its stake in Artesian Resources by 0.6% during 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 during the period. Finally, JPMorgan Chase & Co. raised its stake in Artesian Resources by 169.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,035 shares of the utilities provider’s stock worth $596,000 after buying an additional 10,089 shares during the period. Institutional investors own 57.37% of the company’s stock.

Artesian Resources Stock Performance

Shares of Artesian Resources stock opened at $30.71 on Friday. The company has a market capitalization of $316.25 million, a PE ratio of 15.75 and a beta of 0.19. Artesian Resources Co. has a 12 month low of $29.45 and a 12 month high of $41.29. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74. The stock’s fifty day simple moving average is $31.39 and its 200 day simple moving average is $33.46.

Artesian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $0.3014 per share. This represents a $1.21 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Artesian Resources’s previous quarterly dividend of $0.30. Artesian Resources’s dividend payout ratio (DPR) is presently 61.54%.

Artesian Resources Company Profile

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.