Badger Meter, Inc. (BMI) Upgraded to “Buy” at Sidoti

Sidoti upgraded shares of Badger Meter, Inc. (NYSE:BMI) from a neutral rating to a buy rating in a research note released on Tuesday.

Separately, Zacks Investment Research raised shares of Badger Meter from a hold rating to a buy rating and set a $37.00 price objective on the stock in a research report on Wednesday, September 21st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $32.88.

Badger Meter (NYSE:BMI) traded up 5.87% during mid-day trading on Tuesday, hitting $39.65. 269,339 shares of the company traded hands. Badger Meter has a one year low of $26.40 and a one year high of $39.85. The firm has a 50 day moving average of $37.32 and a 200 day moving average of $34.84. The firm has a market capitalization of $1.15 billion, a P/E ratio of 36.38 and a beta of 0.58.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Tuesday, October 18th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.03. Badger Meter had a return on equity of 13.07% and a net margin of 7.99%. The firm had revenue of $96.30 million for the quarter, compared to analysts’ expectations of $105.66 million. During the same quarter last year, the firm posted $0.58 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts expect that Badger Meter will post $1.14 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Monday, November 28th. Badger Meter’s dividend payout ratio (DPR) is currently 42.20%.

In other news, insider Ronald H. Dix sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $35.81, for a total value of $121,754.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Fred J. Begale sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $36.32, for a total transaction of $72,640.00. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in Badger Meter by 15.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,109,808 shares of the company’s stock valued at $70,700,000 after buying an additional 274,799 shares during the period. Mairs & Power INC raised its stake in Badger Meter by 111.3% in the third quarter. Mairs & Power INC now owns 2,072,564 shares of the company’s stock valued at $69,452,000 after buying an additional 1,091,924 shares during the period. BlackRock Fund Advisors raised its stake in Badger Meter by 113.9% in the third quarter. BlackRock Fund Advisors now owns 1,954,855 shares of the company’s stock valued at $65,507,000 after buying an additional 1,041,038 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Badger Meter by 138.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,502,873 shares of the company’s stock valued at $50,362,000 after buying an additional 873,102 shares during the period. Finally, Vanguard Group Inc. raised its stake 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. 78.20% of the stock is currently owned by 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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