Ashley M. Grimm, Vice President of Human Resources at York Water Co (NASDAQ:YORW), recently purchased 9.307 shares of the company's common stock. The transaction, dated October 16, 2024, was executed at an average price of $35.4588 per share, amounting to a total value of approximately $330.
This acquisition increases Grimm's direct ownership in York Water Co to 9.307 shares. The purchase reflects a modest addition to her holdings, aligning with her role as a key executive within the company. York Water Co, based in York, Pennsylvania, is a prominent player in the water supply industry, and its stock transactions are closely monitored by investors.
In other recent news, The York Water Company (NASDAQ:YORW) reported significant changes to its Board of Directors. After serving on the board for over 17 years, Ernest J. Waters (NYSE:WAT) retired in line with the company's retirement policy. Waters, who was a member of the Audit Committee, will continue his association with the company as a Director Emeritus.
Simultaneously, the company announced the appointment of Robert F. Lambert as a new independent director, effective from September 1, 2024. Currently serving as the president of York County Libraries and holding directorship positions at Traditions Bank and Capital Blue Cross, Lambert is expected to contribute valuable insights and guidance to the board. His term will expire at the 2025 Annual Meeting of Shareholders and he will also serve on the Board's Audit Committee.
These recent developments reflect The York Water Company's commitment to corporate governance standards and regulatory compliance. The company has yet to announce a successor to Waters or detail any changes to the composition of the Audit Committee following his retirement. Investors and stakeholders may anticipate further announcements regarding board composition and any subsequent appointments in due course.
InvestingPro Insights
Ashley M. Grimm's recent purchase of York Water Co (NASDAQ:YORW) shares comes at an interesting time for the company. According to InvestingPro data, YORW's stock is currently trading at $38.04, which is 90.66% of its 52-week high, suggesting potential room for growth.
York Water Co has demonstrated strong financial performance, with a gross profit margin of 74.31% for the last twelve months as of Q2 2024. This aligns with one of the InvestingPro Tips, which highlights the company's impressive gross profit margins. Such robust margins often indicate efficient operations and pricing power within the water utility sector.
Another noteworthy aspect is YORW's commitment to shareholder returns. An InvestingPro Tip reveals that the company has raised its dividend for 27 consecutive years, showcasing a strong track record of increasing shareholder value. This is particularly relevant in the context of Grimm's stock purchase, as it suggests confidence in the company's long-term financial health and ability to maintain its dividend growth streak.
For investors seeking more comprehensive analysis, InvestingPro offers additional insights, with 7 more tips available for York Water Co. These tips could provide valuable context for understanding the company's financial position and future prospects.
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