Norwood Investment Partners LP Buys New Shares in Badger Meter, Inc. $BMI

Norwood Investment Partners LP acquired a new position in shares of Badger Meter, Inc. (NYSE:BMI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,000 shares of the scientific and technical instruments company’s stock, valued at approximately $3,412,740,000. Badger Meter accounts for about 4.7% of Norwood Investment Partners LP’s investment portfolio, making the stock its 11th biggest holding.

Several other hedge funds have also made changes to their positions in BMI. N.E.W. Advisory Services LLC acquired a new stake in Badger Meter during the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd raised its holdings in 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 in the last quarter. Godfrey Financial Associates Inc. bought a new stake in shares of Badger Meter in the 4th quarter worth approximately $27,000. Brown Brothers Harriman & Co. grew its holdings in shares of Badger Meter by 62.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Finally, Dunhill Financial LLC acquired a new stake in shares of Badger Meter during the 2nd quarter worth approximately $28,000. Institutional investors own 89.01% of the company’s stock.

Badger Meter Trading Up 3.2%

Shares of BMI opened at $132.19 on Friday. The stock has a market cap of $3.83 billion, a PE ratio of 30.89, a PEG ratio of 2.34 and a beta of 0.65. Badger Meter, Inc. has a 1 year low of $112.09 and a 1 year high of $204.00. The stock has a 50 day simple moving average of $137.48 and a 200-day simple moving average of $139.15.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The business had revenue of $220.30 million for the quarter, compared to analyst estimates of $220.59 million. During the same quarter in the previous year, the firm earned $1.17 EPS. Badger Meter’s quarterly revenue was down 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Badger Meter, Inc. will post 4.43 EPS for the current fiscal year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a $0.44 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.76 annualized dividend and a dividend yield of 1.3%. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s dividend payout ratio is presently 41.12%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Robert W. Baird set a $167.00 target price on Badger Meter and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Seaport Research Partners set a $160.00 price target on shares of Badger Meter in a report on Thursday, July 23rd. Wall Street Zen upgraded shares of Badger Meter from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. reduced their price objective on shares of Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Finally, Stifel Nicolaus set a $170.00 target price on shares of Badger Meter and gave the company a “buy” rating in a research report on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Badger Meter has an average rating of “Hold” and an average price target of $164.00.

Insider Buying and Selling at Badger Meter

In other news, VP Edward F. Callahan bought 751 shares of the stock in a transaction dated Thursday, July 30th. The shares were acquired at an average price of $135.25 per share, with a total value of $101,572.75. Following the acquisition, the vice president owned 1,937 shares in the company, valued at $261,979.25. This trade represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

Badger Meter 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.