Badger Meter Inc. (BMI) Sees Strong Trading Volume
Badger Meter Inc. (NYSE:BMI) shares saw unusually-strong trading volume on Monday . Approximately 178,875 shares were traded during mid-day trading, an increase of 89% from the previous session’s volume of 94,893 shares.The stock last traded at $66.79 and had previously closed at $66.28.
Several equities research analysts recently issued reports on BMI shares. Ladenburg Thalmann raised shares of Badger Meter from a “sell” rating to a “neutral” rating and set a $61.00 price objective for the company in a research note on Thursday, May 5th. Sterne Agee CRT reaffirmed a “neutral” rating on shares of Badger Meter in a research note on Monday, May 16th. Finally, Zacks Investment Research lowered shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 18th. Seven equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average price target of $63.80.
The firm has a 50-day moving average price of $70.39 and a 200-day moving average price of $69.98. The stock has a market capitalization of $972.39 million and a PE ratio of 30.94. 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 payable to shareholders after the closing bell on Thursday, September 15th.
Badger Meter (NYSE:BMI) last posted its earnings results on Thursday, July 21st. The company reported $0.65 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.65. The company had revenue of $102.80 million for the quarter, compared to analyst estimates of $104.54 million. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 EPS. On average, equities research analysts expect that Badger Meter Inc. will post $2.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.38%. The ex-dividend date is Monday, August 29th. This is an increase from Badger Meter’s previous quarterly dividend of $0.20.
In other Badger Meter news, insider Ronald H. Dix sold 2,000 shares of Badger Meter stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $68.72, for a total value of $137,440.00. Following the completion of the sale, the insider now owns 28,300 shares in the company, valued at approximately $1,944,776. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
A number of hedge funds have modified their holdings of BMI. Wells Fargo & Company MN boosted 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 valued at $9,650,000 after buying an additional 35,793 shares during the period. KBC Group NV boosted 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 valued at $3,264,000 after buying an additional 21,641 shares during the period. Finally, Rhumbline Advisers boosted 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 valued at $1,119,000 after buying an additional 1,330 shares during the period.
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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