Artesian Resources Co. (NASDAQ:ARTNA) Short Interest Up 21.6% in February

Artesian Resources Co. (NASDAQ:ARTNA) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 87,900 shares, a growth of 21.6% from the February 13th total of 72,300 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average trading volume of 40,700 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Palisades Investment Partners LLC lifted its position in shares of Artesian Resources by 8.2% in the 4th quarter. Palisades Investment Partners LLC now owns 51,777 shares of the utilities provider’s stock worth $1,637,000 after buying an additional 3,910 shares during the last quarter. Two Sigma Advisers LP lifted its position in Artesian Resources by 5.7% in the 4th quarter. Two Sigma Advisers LP now owns 54,900 shares of the utilities provider’s stock valued at $1,736,000 after purchasing an additional 2,960 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in Artesian Resources in the 4th quarter valued at about $550,000. Capstone Investment Advisors LLC bought a new stake in Artesian Resources in the 4th quarter valued at about $544,000. Finally, Citadel Advisors LLC lifted its position in Artesian Resources by 56.1% in the 4th quarter. Citadel Advisors LLC now owns 53,305 shares of the utilities provider’s stock valued at $1,686,000 after purchasing an additional 19,152 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors.

Artesian Resources Trading Up 0.6 %

NASDAQ ARTNA opened at $32.36 on Wednesday. Artesian Resources has a 12 month low of $29.45 and a 12 month high of $41.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.22 and a quick ratio of 1.07. The company has a market capitalization of $333.24 million, a price-to-earnings ratio of 16.59 and a beta of 0.19. The company’s fifty day moving average price is $31.34 and its two-hundred day moving average price is $33.53.

Artesian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $0.3014 dividend. This is an increase from Artesian Resources’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Friday, February 7th. Artesian Resources’s dividend payout ratio (DPR) 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.