Andrew J. Policano Sells 8,000 Shares of Badger Meter, Inc. (BMI) Stock
Badger Meter, Inc. (NYSE:BMI) Director Andrew J. Policano sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $45.64, for a total value of $365,120.00. Following the completion of the transaction, the director now owns 24,561 shares in the company, valued at approximately $1,120,964.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Badger Meter, Inc. (NYSE BMI) opened at 44.95 on Friday. Badger Meter, Inc. has a 1-year low of $29.30 and a 1-year high of $46.85. The company has a 50-day moving average price of $44.89 and a 200 day moving average price of $39.87. The stock has a market cap of $1.31 billion, a P/E ratio of 38.09 and a beta of 0.57.
Badger Meter (NYSE:BMI) last issued its earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Badger Meter had a net margin of 8.67% and a return on equity of 13.19%. The company had revenue of $104.17 million for the quarter, compared to analysts’ expectations of $108.02 million. During the same quarter last year, the company posted $0.65 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts expect that Badger Meter, Inc. will post $1.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.13 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.16%. This is a boost from Badger Meter’s previous quarterly dividend of $0.12. Badger Meter’s dividend payout ratio (DPR) is currently 44.44%.
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Hedge funds have recently modified their holdings of the stock. First Personal Financial Services purchased a new stake in Badger Meter in the second quarter worth approximately $119,000. State of Alaska Department of Revenue boosted its holdings 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 purchasing an additional 60 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Badger Meter in the second quarter worth approximately $140,000. Acrospire Investment Management LLC purchased a new stake in Badger Meter in the first quarter worth approximately $135,000. Finally, Pinebridge Investments L.P. boosted its holdings in Badger Meter by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 3,836 shares of the scientific and technical instruments company’s stock worth $153,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 84.25% of the company’s stock.
A number of equities analysts have recently weighed in on the company. BidaskClub upgraded Badger Meter from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Boenning Scattergood restated a “hold” rating on shares of Badger Meter in a research note on Friday, July 21st. Sidoti restated a “buy” rating and issued a $52.00 target price (up previously from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. Zacks Investment Research upgraded Badger Meter from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Canaccord Genuity restated a “hold” rating and issued a $37.00 target price on shares of Badger Meter in a research note on Wednesday, May 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Badger Meter currently has a consensus rating of “Hold” and a consensus target price of $42.00.
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.
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