Badger Meter Inc. (BMI) Sees Strong Trading Volume
Badger Meter Inc. (NYSE:BMI) shares saw unusually-strong trading volume on Friday . Approximately 173,386 shares were traded during trading, an increase of 124% from the previous session’s volume of 77,477 shares.The stock last traded at $68.79 and had previously closed at $69.19.
A number of equities research analysts have recently issued reports on BMI shares. Zacks Investment Research upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Thursday, April 21st. Sterne Agee CRT reaffirmed a “neutral” rating on shares of Badger Meter in a research report on Monday, May 16th. Finally, Ladenburg Thalmann raised shares of Badger Meter from a “sell” rating to a “neutral” rating and set a $61.00 price objective on the stock in a research report on Thursday, May 5th. Seven equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $63.80.
The firm has a market capitalization of $1.00 billion and a P/E ratio of 31.85. The company has a 50 day moving average of $71.25 and a 200-day moving average of $69.55. Shares of Badger Meter are scheduled to split on the morning of Friday, September 16th. The 2-1 split was announced on Friday, August 12th. The newly minted shares will be distributed to shareholders after the market closes 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 analysts’ consensus estimates of $0.65. The firm earned $102.80 million during the quarter, compared to analyst estimates of $104.54 million. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, analysts predict that Badger Meter Inc. will post $2.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a $0.23 dividend. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Badger Meter’s previous quarterly dividend of $0.20.
Several hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in shares of Badger Meter by 7.5% in the fourth quarter. Rhumbline Advisers now owns 19,107 shares of the company’s stock worth $1,119,000 after buying an additional 1,330 shares in the last quarter. US Bancorp DE increased its stake in shares of Badger Meter by 0.4% in the fourth quarter. US Bancorp DE now owns 28,161 shares of the company’s stock worth $1,650,000 after buying an additional 117 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Badger Meter by 0.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 47,328 shares of the company’s stock worth $2,773,000 after buying an additional 275 shares in the last quarter. KBC Group NV increased its stake in shares of Badger Meter by 63.5% in the fourth quarter. KBC Group NV now owns 55,706 shares of the company’s stock worth $3,264,000 after buying an additional 21,641 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Badger Meter by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 164,692 shares of the company’s stock worth $9,650,000 after buying an additional 35,793 shares in the last quarter.
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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