Badger Meter, Inc. (BMI) Lifted to Buy at Sidoti
Badger Meter, Inc. (NYSE:BMI) was upgraded by equities research analysts at Sidoti from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday.
Separately, Zacks Investment Research raised Badger Meter from a “sell” rating to a “hold” rating in a research report on Tuesday, December 20th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $32.88.
Badger Meter (NYSE:BMI) traded down 0.91% during midday trading on Tuesday, reaching $38.05. The company had a trading volume of 145,453 shares. The stock’s 50 day moving average is $37.52 and its 200 day moving average is $34.93. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 34.91 and a beta of 0.58. Badger Meter has a 12-month low of $26.40 and a 12-month high of $39.85.
Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Tuesday, October 18th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.03. The company had revenue of $96.30 million for the quarter, compared to analyst estimates of $105.66 million. Badger Meter had a return on equity of 13.07% and a net margin of 7.99%. Badger Meter’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. Equities research analysts expect that Badger Meter will post $1.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Monday, November 28th. Badger Meter’s payout ratio is currently 42.20%.
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In related news, VP Fred J. Begale sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $36.32, for a total value of $72,640.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Horst Gras sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $228,000.00. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of Badger Meter by 77.4% in the second quarter. Victory Capital Management Inc. now owns 1,403 shares of the company’s stock worth $102,000 after buying an additional 612 shares in the last quarter. PineBridge Investments L.P. raised its position in shares of Badger Meter by 3.9% in the second quarter. PineBridge Investments L.P. now owns 1,844 shares of the company’s stock worth $134,000 after buying an additional 69 shares in the last quarter. Clean Yield Group raised its position in shares of Badger Meter by 100.0% in the third quarter. Clean Yield Group now owns 4,800 shares of the company’s stock worth $161,000 after buying an additional 2,400 shares in the last quarter. Profund Advisors LLC bought a new position in shares of Badger Meter during the second quarter worth $200,000. Finally, SG Americas Securities LLC bought a new position in shares of Badger Meter during the third quarter worth $202,000. 78.20% of the stock is currently owned by hedge funds and other institutional investors.
About Badger Meter
Badger Meter, Inc is engaged in flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers across the world. The Company’s products, measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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