Badger Meter, Inc. (BMI) Stake Maintained by Royce & Associates LP
Royce & Associates LP held its position in Badger Meter, Inc. (NYSE:BMI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 455,028 shares of the scientific and technical instruments company’s stock at the end of the second quarter. Royce & Associates LP owned approximately 1.56% of Badger Meter worth $18,133,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMI. First Personal Financial Services purchased a new position in Badger Meter during the second quarter worth $119,000. State of Alaska Department of Revenue raised its position in Badger Meter by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,210 shares of the scientific and technical instruments company’s stock worth $117,000 after buying an additional 60 shares during the last quarter. SG Americas Securities LLC purchased a new position in Badger Meter during the second quarter worth $140,000. Acrospire Investment Management LLC purchased a new position in Badger Meter during the first quarter worth $135,000. Finally, Clean Yield Group purchased a new position in Badger Meter during the first quarter worth $153,000. 84.25% of the stock is currently owned by institutional investors.
Shares of Badger Meter, Inc. (BMI) opened at 44.85 on Wednesday. Badger Meter, Inc. has a 12 month low of $29.30 and a 12 month high of $46.85. The firm has a 50-day moving average of $43.60 and a 200 day moving average of $39.27. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 38.01 and a beta of 0.56.
Badger Meter (NYSE:BMI) last issued its earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The firm had revenue of $104.17 million for the quarter, compared to analyst estimates of $108.02 million. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. Badger Meter’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. On average, analysts expect that Badger Meter, Inc. will post $1.29 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.13 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.16%. This is a positive change from Badger Meter’s previous quarterly dividend of $0.12. Badger Meter’s dividend payout ratio is currently 39.32%.
A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Sidoti reissued a “buy” rating and set a $52.00 price target (up from $50.00) on shares of Badger Meter in a research report on Monday, June 19th. Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a research report on Friday, July 21st. Canaccord Genuity reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Badger Meter in a research report on Wednesday, May 24th. Finally, Zacks Investment Research raised shares of Badger Meter from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $42.00.
In related news, VP Richard E. Johnson sold 12,736 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $41.26, for a total value of $525,487.36. Following the sale, the vice president now owns 130,704 shares in the company, valued at $5,392,847.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Beverly L. P. Smiley sold 19,610 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $45.14, for a total value of $885,195.40. Following the completion of the sale, the vice president now owns 68,926 shares in the company, valued at approximately $3,111,319.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,776 shares of company stock worth $3,858,414. 4.50% of the stock is owned by insiders.
About Badger Meter
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.
Want to see what other hedge funds are holding BMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Badger Meter, Inc. (NYSE:BMI).
Receive News & Ratings for Badger Meter Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Badger Meter Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.