Badger Meter (NYSE:BMI) Reaches New 1-Year Low After Earnings Miss

Badger Meter, Inc. (NYSE:BMI) reached a new 52-week low during mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as $120.41 and last traded at $124.6550, with a volume of 464175 shares. The stock had previously closed at $152.29.

The scientific and technical instruments company reported $1.14 earnings per share for the quarter. The firm had revenue of $220.71 million for the quarter. Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 27th. This represents a $1.60 annualized dividend and a yield of 1.3%. Badger Meter’s payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BMI. Argus lowered Badger Meter from a “buy” rating to a “hold” rating in a report on Monday, February 2nd. Jefferies Financial Group dropped their target price on Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Stifel Nicolaus set a $174.00 price target on Badger Meter and gave the stock a “buy” rating in a research report on Tuesday. Barclays set a $136.00 price target on Badger Meter and gave the stock an “underweight” rating in a research report on Thursday, January 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $191.00 target price (down from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Badger Meter has a consensus rating of “Hold” and an average target price of $183.88.

Insiders Place Their Bets

In other Badger Meter news, CEO Kenneth Bockhorst bought 3,300 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was purchased at an average cost of $152.42 per share, for a total transaction of $502,986.00. Following the completion of the purchase, the chief executive officer directly owned 40,013 shares of the company’s stock, valued at approximately $6,098,781.46. This trade represents a 8.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kimberly K. Stoll sold 1,634 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total value of $243,482.34. Following the sale, the vice president owned 3,256 shares of the company’s stock, valued at $485,176.56. The trade was a 33.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,989 shares of company stock valued at $596,002 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Badger Meter

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC bought a new position in shares of Badger Meter in the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Badger Meter by 76.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock valued at $26,000 after acquiring an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. bought a new position in shares of Badger Meter in the 4th quarter valued at $27,000. Caitlin John LLC bought a new position in shares of Badger Meter in the 3rd quarter valued at $31,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Badger Meter by 62.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 71 shares during the last quarter. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Trading Down 16.5%

The company has a market capitalization of $3.71 billion, a P/E ratio of 26.42, a PEG ratio of 2.55 and a beta of 0.90. The stock has a 50 day moving average price of $153.13 and a 200 day moving average price of $167.99.

Badger Meter Company Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.