American International Group Inc. cut its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 16.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,289 shares of the scientific and technical instruments company’s stock after selling 3,443 shares during the period. American International Group Inc. owned about 0.06% of Badger Meter worth $635,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in shares of Badger Meter by 5.5% in the fourth quarter. Comerica Bank now owns 31,079 shares of the scientific and technical instruments company’s stock worth $1,183,000 after buying an additional 1,615 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Badger Meter by 8.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 461,522 shares of the scientific and technical instruments company’s stock worth $17,053,000 after buying an additional 34,806 shares in the last quarter. Norges Bank purchased a new stake in shares of Badger Meter during the fourth quarter worth approximately $3,994,000. Dimensional Fund Advisors LP raised its stake in shares of Badger Meter by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,087,438 shares of the scientific and technical instruments company’s stock worth $40,181,000 after buying an additional 8,230 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Badger Meter by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the scientific and technical instruments company’s stock worth $437,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.
Shares of Badger Meter, Inc. (NYSE BMI) opened at 40.70 on Tuesday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 36.02 and a beta of 0.54. Badger Meter, Inc. has a 1-year low of $29.30 and a 1-year high of $41.70. The company has a 50 day moving average price of $39.49 and a 200-day moving average price of $37.80.
Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Wednesday, April 19th. The scientific and technical instruments company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $101.60 million during the quarter, compared to analyst estimates of $102.63 million. Badger Meter had a return on equity of 13.02% and a net margin of 8.37%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS. On average, equities research analysts forecast that Badger Meter, Inc. will post $1.24 EPS for the current fiscal year.
A number of brokerages recently commented on BMI. Sidoti reiterated a “buy” rating and issued a $52.00 target price (up previously from $50.00) on shares of Badger Meter in a research report on Monday, June 19th. BidaskClub downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research raised Badger Meter from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Canaccord Genuity reissued a “hold” rating and issued a $37.00 price objective on shares of Badger Meter in a research note on Wednesday, May 24th.
In related news, VP Beverly L. P. Smiley sold 22,100 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $40.30, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard E. Johnson sold 28,004 shares of the stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $41.34, for a total value of $1,157,685.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,908 shares of company stock valued at $4,908,212. 4.50% of the stock is currently owned by corporate insiders.
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.
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