Badger Meter, Inc. (BMI) to Distribute Quarterly Dividend of $0.44 on September 11th

Badger Meter, Inc. (NYSE:BMI) declared a quarterly dividend on Friday, August 14th. Stockholders of record on Friday, August 28th will be given a dividend of 0.44 per share by the scientific and technical instruments company on Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 28th. This is a 10.0% increase from Badger Meter’s previous quarterly dividend of $0.40.

Badger Meter has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 32 years. Badger Meter has a payout ratio of 32.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Badger Meter to earn $4.95 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 35.6%.

Badger Meter Trading Up 0.8%

NYSE BMI opened at $136.83 on Wednesday. The company has a fifty day simple moving average of $137.53 and a 200 day simple moving average of $138.91. The company has a market cap of $3.97 billion, a P/E ratio of 31.97, a P/E/G ratio of 2.44 and a beta of 0.65. Badger Meter has a 1 year low of $112.09 and a 1 year high of $204.00.

Badger Meter (NYSE:BMI) last announced its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. The firm had revenue of $220.30 million for the quarter, compared to the consensus estimate of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. Equities research analysts forecast that Badger Meter will post 4.5 EPS for the current fiscal year.

Insider Activity at Badger Meter

In related news, VP Edward F. Callahan bought 751 shares of Badger Meter stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the purchase, the vice president owned 1,937 shares in the company, valued at approximately $261,979.25. This represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Badger Meter

Several large investors have recently added to or reduced their stakes in the company. XXEC Inc. acquired a new stake in shares of Badger Meter during the 2nd quarter worth approximately $825,029,000. California State Teachers Retirement System raised its stake in shares of Badger Meter by 14,467.6% in the second quarter. California State Teachers Retirement System now owns 4,980,820 shares of the scientific and technical instruments company’s stock valued at $739,054,000 after purchasing an additional 4,946,629 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Badger Meter in the second quarter valued at $725,926,000. Norges Bank bought a new position in Badger Meter in the fourth quarter worth $83,819,000. Finally, Bank of America Corp DE acquired a new stake in Badger Meter during the second quarter worth $68,344,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

About Badger Meter

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.