Delta Lloyd NV boosted its stake in Badger Meter Inc. (NYSE:BMI) by 100.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the company’s stock after buying an additional 40,000 shares during the period. Delta Lloyd NV owned about 0.27% of Badger Meter worth $2,681,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Badger Meter by 2.7% in the second quarter. Vanguard Group Inc. now owns 1,242,957 shares of the company’s stock valued at $90,772,000 after buying an additional 32,689 shares during the period. BlackRock Fund Advisors increased its position in shares of Badger Meter by 1.6% in the second quarter. BlackRock Fund Advisors now owns 913,817 shares of the company’s stock valued at $66,736,000 after buying an additional 14,240 shares during the period. Wells Fargo & Company MN increased its position in shares of Badger Meter by 401.4% in the third quarter. Wells Fargo & Company MN now owns 681,127 shares of the company’s stock valued at $22,825,000 after buying an additional 545,274 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Badger Meter by 0.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 629,771 shares of the company’s stock valued at $45,993,000 after buying an additional 1,694 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Badger Meter by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 532,704 shares of the company’s stock valued at $38,902,000 after buying an additional 3,595 shares during the period. 60.84% of the stock is currently owned by institutional investors.
Badger Meter Inc. (NYSE:BMI) traded up 0.28% during mid-day trading on Friday, hitting $36.30. The company had a trading volume of 53,898 shares. Badger Meter Inc. has a 52-week low of $26.40 and a 52-week high of $39.36. The firm has a market cap of $1.06 billion, a P/E ratio of 33.30 and a beta of 0.55. The stock’s 50 day moving average price is $33.21 and its 200 day moving average price is $34.73.
Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. The business earned $96.30 million during the quarter, compared to analysts’ expectations of $105.66 million. Badger Meter had a net margin of 7.99% and a return on equity of 13.07%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 EPS. On average, equities research analysts predict that Badger Meter Inc. will post $1.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors 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 1.27%. The ex-dividend date of this dividend is Monday, November 28th. Badger Meter’s dividend payout ratio is currently 42.20%.
Separately, Zacks Investment Research downgraded Badger Meter from a “hold” rating to a “sell” rating in a research note on Friday, October 21st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Badger Meter has a consensus rating of “Hold” and an average target price of $32.88.
In related news, insider Ronald H. Dix sold 1,600 shares of the stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $66.12, for a total value of $105,792.00. Following the completion of the transaction, the insider now owns 25,700 shares of the company’s stock, valued at $1,699,284. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Fred J. Begale sold 1,720 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $66.00, for a total value of $113,520.00. Following the completion of the transaction, the vice president now directly owns 2,336 shares of the company’s stock, valued at approximately $154,176. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.
Badger Meter Company Profile
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.