Badger Meter, Inc. (NYSE:BMI) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $55.65 and last traded at $55.80, with a volume of 618 shares changing hands. The stock had previously closed at $54.90.
A number of research firms have issued reports on BMI. Zacks Investment Research raised Badger Meter from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price target on shares of Badger Meter in a research report on Friday, July 20th. Stifel Nicolaus increased their price target on Badger Meter from $41.00 to $49.00 and gave the company a “hold” rating in a research report on Friday, July 20th. ValuEngine raised Badger Meter from a “hold” rating to a “buy” rating in a research report on Saturday, June 16th. Finally, Canaccord Genuity raised Badger Meter from a “sell” rating to a “hold” rating and increased their price target for the company from $40.00 to $44.00 in a research report on Friday, June 15th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $51.80.
The stock has a market cap of $1.62 billion, a PE ratio of 46.38, a PEG ratio of 4.32 and a beta of 0.70.
Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Wednesday, July 18th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $113.65 million for the quarter, compared to analyst estimates of $111.03 million. Badger Meter had a return on equity of 12.51% and a net margin of 6.96%. Badger Meter’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. equities research analysts expect that Badger Meter, Inc. will post 1.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, August 30th. This is a positive change from Badger Meter’s previous quarterly dividend of $0.13. Badger Meter’s dividend payout ratio (DPR) is 50.42%.
In other news, VP Fred J. Begale sold 2,362 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $55.01, for a total transaction of $129,933.62. Following the sale, the vice president now owns 7,269 shares of the company’s stock, valued at approximately $399,867.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard E. Johnson sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $52.43, for a total value of $1,048,600.00. Following the sale, the vice president now directly owns 85,982 shares in the company, valued at approximately $4,508,036.26. The disclosure for this sale can be found here. Insiders have sold a total of 46,362 shares of company stock worth $2,426,234 in the last three months. Corporate insiders own 2.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Badger Meter by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 577,317 shares of the scientific and technical instruments company’s stock worth $25,807,000 after acquiring an additional 10,630 shares in the last quarter. New England Asset Management Inc. acquired a new stake in shares of Badger Meter during the 2nd quarter worth about $362,000. Vident Investment Advisory LLC acquired a new stake in shares of Badger Meter during the 2nd quarter worth about $212,000. Raymond James & Associates raised its position in shares of Badger Meter by 54.6% during the 2nd quarter. Raymond James & Associates now owns 12,230 shares of the scientific and technical instruments company’s stock worth $547,000 after acquiring an additional 4,321 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Badger Meter by 20.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 6,364 shares of the scientific and technical instruments company’s stock worth $284,000 after acquiring an additional 1,090 shares in the last quarter. 85.71% of the stock is currently owned by institutional investors and hedge funds.
Badger Meter Company Profile (NYSE:BMI)
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
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