Emerald Acquisition Ltd. acquired a new stake in Badger Meter Inc. (NYSE:BMI) during the second quarter, Holdings Channel reports. The fund acquired 9,785 shares of the company’s stock, valued at approximately $715,000. Emerald Acquisition Ltd. owned approximately 0.07% of Badger Meter at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capstone Asset Management Co. boosted its position in Badger Meter by 4.5% in the second quarter. Capstone Asset Management Co. now owns 4,893 shares of the company’s stock worth $357,000 after buying an additional 210 shares during the period. Aperio Group LLC boosted its position in Badger Meter by 1.7% in the first quarter. Aperio Group LLC now owns 18,463 shares of the company’s stock worth $1,228,000 after buying an additional 300 shares during the period. Swiss National Bank boosted its position in Badger Meter by 2.1% in the second quarter. Swiss National Bank now owns 23,900 shares of the company’s stock worth $1,745,000 after buying an additional 500 shares during the period. Cardinal Capital Management boosted its position 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. Finally, BlackRock Inc. boosted its position in Badger Meter by 10.8% in the first quarter. BlackRock Inc. now owns 6,365 shares of the company’s stock worth $423,000 after buying an additional 620 shares during the period. 39.81% of the stock is owned by hedge funds and other institutional investors.
Badger Meter Inc. (NYSE:BMI) traded up 0.98% on Friday, hitting $33.06. The stock had a trading volume of 83,151 shares. Badger Meter Inc. has a 1-year low of $26.40 and a 1-year high of $39.36. The company has a 50-day moving average price of $33.19 and a 200-day moving average price of $34.98. The stock has a market capitalization of $961.95 million, a price-to-earnings ratio of 30.61 and a beta of 0.63.
Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.65 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.65. Badger Meter had a return on equity of 13.19% and a net margin of 7.81%. The firm earned $102.80 million during the quarter, compared to analyst estimates of $104.54 million. During the same period last year, the company earned $0.55 EPS. Badger Meter’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts predict that Badger Meter Inc. will post $1.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a dividend of $0.23 per share. This is a positive change from Badger Meter’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Monday, August 29th. Badger Meter’s dividend payout ratio (DPR) is currently 42.59%.
Separately, Zacks Investment Research cut shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a report on Monday, July 18th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Badger Meter has a consensus rating of “Hold” and a consensus target price of $32.88.
In related news, VP Fred J. Begale sold 1,720 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $66.00, for a total transaction of $113,520.00. Following the completion of the sale, the vice president now directly owns 2,336 shares of the company’s stock, valued at approximately $154,176. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William R. A. Bergum sold 2,250 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $65.09, for a total value of $146,452.50. Following the sale, the vice president now directly owns 4,432 shares of the company’s stock, valued at $288,478.88. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
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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