Badger Meter, Inc. (NYSE:BMI) announced a quarterly dividend on Friday, August 11th, RTT News reports. Investors of record on Thursday, August 31st will be paid a dividend of 0.13 per share by the scientific and technical instruments company on Friday, September 15th. This represents a $0.52 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, August 29th. This is a positive change from Badger Meter’s previous quarterly dividend of $0.12.

Badger Meter has increased its dividend payment by an average of 7.1% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Badger Meter has a dividend payout ratio of 41.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Badger Meter to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 37.1%.

Shares of Badger Meter (BMI) opened at 45.00 on Monday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 38.14 and a beta of 0.56. Badger Meter has a 12 month low of $29.30 and a 12 month high of $46.85. The company has a 50-day moving average price of $43.60 and a 200-day moving average price of $39.27.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The business had revenue of $104.17 million for the quarter, compared to analysts’ expectations of $108.02 million. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. Analysts forecast that Badger Meter will post $1.29 earnings per share for the current fiscal year.

BMI has been the topic of several research reports. Canaccord Genuity reaffirmed a “hold” rating and set a $37.00 price objective on shares of Badger Meter in a research report on Wednesday, May 24th. Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a research report on Friday, July 21st. BidaskClub cut Badger Meter from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Sidoti reissued a “buy” rating and issued a $52.00 price target (up from $50.00) on shares of Badger Meter in a research report on Monday, June 19th. Finally, Zacks Investment Research raised Badger Meter from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.00.

In other news, Chairman Richard A. Meeusen sold 16,500 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $44.61, for a total value of $736,065.00. Following the sale, the chairman now directly owns 164,620 shares of the company’s stock, valued at approximately $7,343,698.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Beverly L. P. Smiley sold 22,100 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $40.30, for a total value of $890,630.00. Following the completion of the sale, the vice president now directly owns 95,633 shares in the company, valued at $3,854,009.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,776 shares of company stock worth $3,858,414. Insiders own 4.50% of the company’s stock.

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Badger Meter Company Profile

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.

Dividend History for Badger Meter (NYSE:BMI)

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