Badger Meter, Inc. (NYSE:BMI)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $51.20 and last traded at $51.20, with a volume of 59,110 shares changing hands. The stock had previously closed at $50.65.
Several research firms recently weighed in on BMI. BidaskClub cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Sidoti reissued a “buy” rating and issued a $52.00 target price (up from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a research note on Friday, July 21st. Zacks Investment Research cut shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $40.00 target price on shares of Badger Meter in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Badger Meter currently has a consensus rating of “Hold” and a consensus target price of $49.33.
The company has a market capitalization of $1.49 billion, a PE ratio of 43.35 and a beta of 0.56. The company has a 50-day moving average price of $46.79 and a 200-day moving average price of $41.77.
Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $104.17 million during the quarter, compared to the consensus estimate of $108.02 million. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. Equities analysts predict that Badger Meter, Inc. will post $1.28 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, August 29th. This is an increase from Badger Meter’s previous quarterly dividend of $0.12. Badger Meter’s dividend payout ratio is 44.44%.
In other Badger Meter news, VP Beverly L. P. Smiley sold 7,550 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $45.26, for a total value of $341,713.00. Following the completion of the transaction, the vice president now owns 56,449 shares in the company, valued at approximately $2,554,881.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard A. Meeusen sold 16,500 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $44.61, for a total value of $736,065.00. Following the completion of the transaction, the chairman now owns 164,620 shares of the company’s stock, valued at approximately $7,343,698.20. The disclosure for this sale can be found here. Insiders sold a total of 63,340 shares of company stock valued at $2,859,651 in the last 90 days. Corporate insiders own 4.50% of the company’s stock.
A number of large investors have recently made changes to their positions in BMI. Bank of New York Mellon Corp grew its stake in Badger Meter by 13.8% in the 1st quarter. Bank of New York Mellon Corp now owns 600,691 shares of the scientific and technical instruments company’s stock valued at $22,075,000 after purchasing an additional 72,916 shares during the period. Comerica Bank grew its stake in Badger Meter by 4.0% in the 1st quarter. Comerica Bank now owns 32,318 shares of the scientific and technical instruments company’s stock valued at $1,314,000 after purchasing an additional 1,239 shares during the period. UBS Asset Management Americas Inc. grew its stake in Badger Meter by 13.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 523,197 shares of the scientific and technical instruments company’s stock valued at $19,227,000 after purchasing an additional 61,675 shares during the period. Ameriprise Financial Inc. grew its stake in Badger Meter by 4.6% in the 1st quarter. Ameriprise Financial Inc. now owns 152,754 shares of the scientific and technical instruments company’s stock valued at $5,613,000 after purchasing an additional 6,725 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in Badger Meter by 833.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 130,818 shares of the scientific and technical instruments company’s stock valued at $4,808,000 after purchasing an additional 116,803 shares during the period. Hedge funds and other institutional investors own 83.96% of the company’s stock.
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Badger Meter Company Profile
Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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