Artesian Resources Co. (NASDAQ:ARTNA) Short Interest Down 18.3% in August

Artesian Resources Co. (NASDAQ:ARTNA) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 79,800 shares, a decline of 18.3% from the August 15th total of 97,700 shares. Based on an average daily trading volume, of 74,100 shares, the days-to-cover ratio is presently 1.1 days.

Artesian Resources Price Performance

Shares of NASDAQ ARTNA traded up $0.20 during trading on Monday, reaching $38.58. The company had a trading volume of 28,105 shares, compared to its average volume of 54,647. Artesian Resources has a 52 week low of $33.34 and a 52 week high of $47.14. The business’s 50 day moving average price is $37.63 and its 200-day moving average price is $36.68. The stock has a market cap of $397.37 million, a PE ratio of 22.58 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 posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.02). Artesian Resources had a return on equity of 7.90% and a net margin of 17.74%. The company had revenue of $27.42 million during the quarter, compared to the consensus estimate of $27.00 million. Analysts expect that Artesian Resources will post 1.92 earnings per share for the current year.

Artesian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Friday, August 16th were paid a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, August 16th. Artesian Resources’s dividend payout ratio (DPR) is presently 69.41%.

Hedge Funds Weigh In On Artesian Resources

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in Artesian Resources by 45.3% in the fourth quarter. BNP Paribas Financial Markets now owns 10,534 shares of the utilities provider’s stock valued at $437,000 after acquiring an additional 3,282 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Artesian Resources by 25.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 11,403 shares of the utilities provider’s stock worth $473,000 after purchasing an additional 2,300 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Artesian Resources during the fourth quarter worth $93,000. Cullen Capital Management LLC increased its holdings in Artesian Resources by 7.3% in the fourth 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 during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Artesian Resources by 14.9% in the first quarter. Russell Investments Group Ltd. now owns 96,493 shares of the utilities provider’s stock valued at $3,581,000 after buying an additional 12,523 shares during the period. Institutional investors own 57.37% of the company’s stock.

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.