Royce & Associates LP Has $19.49 Million Stake in Badger Meter, Inc. (BMI)
Royce & Associates LP cut its position in Badger Meter, Inc. (NYSE:BMI) by 10.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 407,668 shares of the scientific and technical instruments company’s stock after selling 47,360 shares during the quarter. Royce & Associates LP’s holdings in Badger Meter were worth $19,487,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. UBS Asset Management Americas Inc. raised its position in shares of Badger Meter by 16.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 666,590 shares of the scientific and technical instruments company’s stock valued at $31,863,000 after buying an additional 94,609 shares in the last quarter. BlackRock Inc. raised its position in shares of Badger Meter by 3.5% in the 4th quarter. BlackRock Inc. now owns 3,679,398 shares of the scientific and technical instruments company’s stock valued at $175,875,000 after buying an additional 124,253 shares in the last quarter. Rhumbline Advisers raised its position in shares of Badger Meter by 8.8% in the 4th quarter. Rhumbline Advisers now owns 87,568 shares of the scientific and technical instruments company’s stock valued at $4,186,000 after buying an additional 7,085 shares in the last quarter. Suffolk Capital Management LLC acquired a new position in shares of Badger Meter in the 4th quarter valued at approximately $1,016,000. Finally, Arizona State Retirement System raised its position in shares of Badger Meter by 224.2% in the 4th quarter. Arizona State Retirement System now owns 48,933 shares of the scientific and technical instruments company’s stock valued at $2,339,000 after buying an additional 33,839 shares in the last quarter. Institutional investors own 84.59% of the company’s stock.
In other Badger Meter news, CEO Richard A. Meeusen sold 6,089 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $49.83, for a total transaction of $303,414.87. Following the sale, the chief executive officer now directly owns 147,531 shares of the company’s stock, valued at approximately $7,351,469.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Fred J. Begale sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $45.60, for a total transaction of $91,200.00. Following the sale, the vice president now directly owns 7,609 shares in the company, valued at $346,970.40. The disclosure for this sale can be found here. Insiders have sold a total of 15,289 shares of company stock worth $722,575 over the last ninety days. 4.50% of the stock is currently owned by insiders.
Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Tuesday, February 6th. The scientific and technical instruments company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $96.65 million for the quarter, compared to analyst estimates of $98.08 million. Badger Meter had a net margin of 8.59% and a return on equity of 12.78%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. equities analysts predict that Badger Meter, Inc. will post 1.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Tuesday, February 27th. Badger Meter’s dividend payout ratio (DPR) is presently 44.07%.
Several equities analysts have recently commented on BMI shares. Stifel Nicolaus restated a “hold” rating and issued a $45.00 target price on shares of Badger Meter in a research report on Thursday, December 14th. Zacks Investment Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Robert W. Baird lifted their price target on shares of Badger Meter from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Badger Meter currently has an average rating of “Hold” and a consensus target price of $51.60.
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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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