Insider Selling: Badger Meter Inc. (BMI) Insider Sells $121,754.00 in Stock
Badger Meter Inc. (NYSE:BMI) insider Ronald H. Dix sold 3,400 shares of Badger Meter stock in a transaction on Friday, November 11th. The shares were sold at an average price of $35.81, for a total transaction of $121,754.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Badger Meter Inc. (NYSE:BMI) opened at 34.90 on Thursday. The firm has a 50-day moving average price of $32.94 and a 200 day moving average price of $34.77. Badger Meter Inc. has a 12 month low of $26.40 and a 12 month high of $39.36. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 32.02 and a beta of 0.55.
Badger Meter (NYSE:BMI) last released its earnings results on Tuesday, October 18th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. The business earned $96.30 million during the quarter, compared to analyst estimates of $105.66 million. Badger Meter had a net margin of 7.99% and a return on equity of 13.07%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. On average, analysts anticipate that Badger Meter Inc. will post $1.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Monday, November 28th. Badger Meter’s dividend payout ratio (DPR) is currently 42.20%.
Separately, Zacks Investment Research raised shares of Badger Meter from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Wednesday, September 21st. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.88.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. raised its stake in Badger Meter by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 383,549 shares of the company’s stock worth $25,510,000 after buying an additional 8,406 shares during the period. Prudential Financial Inc. raised its stake in Badger Meter by 3.3% in the first quarter. Prudential Financial Inc. now owns 34,997 shares of the company’s stock worth $2,328,000 after buying an additional 1,120 shares during the period. Cardinal Capital Management raised its stake in Badger Meter by 6.1% in the second quarter. Cardinal Capital Management now owns 9,972 shares of the company’s stock worth $728,000 after buying an additional 574 shares during the period. Capital Fund Management S.A. acquired a new stake in Badger Meter during the second quarter worth about $752,000. Finally, UBS Asset Management Americas Inc. raised its stake in Badger Meter by 8.7% in the first quarter. UBS Asset Management Americas Inc. now owns 230,575 shares of the company’s stock worth $15,336,000 after buying an additional 18,505 shares during the period. 51.65% of the stock is currently owned by hedge funds and other institutional investors.
About Badger Meter
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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