Badger Meter Inc. (BMI) Sees Large Volume Increase
Badger Meter Inc. (NYSE:BMI) saw an uptick in trading volume on Monday . 273,800 shares traded hands during trading, an increase of 128% from the previous session’s volume of 120,193 shares.The stock last traded at $66.46 and had previously closed at $66.00.
Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 18th. Sterne Agee CRT restated a “neutral” rating on shares of Badger Meter in a research report on Monday, May 16th. Seven analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus target price of $63.80.
The stock has a market capitalization of $966.86 million and a PE ratio of 30.77. The stock has a 50 day moving average of $69.46 and a 200-day moving average of $69.92. Badger Meter shares are going to split on Friday, September 16th. The 2-1 split was announced on Friday, August 12th. The newly issued shares will be payable to shareholders after the closing bell on Thursday, September 15th.
Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. The firm had revenue of $102.80 million for the quarter, compared to analyst estimates of $104.54 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. Equities research analysts expect that Badger Meter Inc. will post $2.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a $0.23 dividend. The ex-dividend date is Monday, August 29th. This is an increase from Badger Meter’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a yield of 1.38%.
In other Badger Meter news, insider Ronald H. Dix sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.72, for a total value of $137,440.00. Following the transaction, the insider now directly owns 28,300 shares in the company, valued at $1,944,776. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Fred J. Begale sold 1,720 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $66.00, for a total transaction of $113,520.00. Following the completion of the transaction, the vice president now owns 2,336 shares in the company, valued at $154,176. The disclosure for this sale can be found here.
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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