Bluestein R H & Co. Acquires Shares of 5,000 Badger Meter, Inc. (BMI)

Bluestein R H & Co. acquired a new position in Badger Meter, Inc. (NYSE:BMI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,000 shares of the scientific and technical instruments company’s stock, valued at approximately $245,000.

Several other large investors have also recently made changes to their positions in BMI. Delta Lloyd Asset Management N.V. purchased a new position in shares of Badger Meter in the second quarter worth about $3,188,000. State Street Corp raised its stake in shares of Badger Meter by 9.4% in the first quarter. State Street Corp now owns 683,118 shares of the scientific and technical instruments company’s stock worth $25,105,000 after purchasing an additional 58,978 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Badger Meter in the third quarter worth about $2,305,000. UBS Asset Management Americas Inc. raised its stake in shares of Badger Meter by 8.5% in the second quarter. UBS Asset Management Americas Inc. now owns 567,899 shares of the scientific and technical instruments company’s stock worth $22,631,000 after purchasing an additional 44,702 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Badger Meter by 2.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,658,855 shares of the scientific and technical instruments company’s stock worth $66,105,000 after purchasing an additional 41,724 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Badger Meter, Inc. (NYSE:BMI) opened at $45.55 on Wednesday. The firm has a market capitalization of $1,331.89, a P/E ratio of 40.13 and a beta of 0.67. Badger Meter, Inc. has a 12-month low of $34.40 and a 12-month high of $52.10.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Monday, October 16th. The scientific and technical instruments company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.08). The company had revenue of $100.00 million for the quarter, compared to analysts’ expectations of $102.86 million. Badger Meter had a net margin of 8.39% and a return on equity of 12.62%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. analysts expect that Badger Meter, Inc. will post 1.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.14%. The ex-dividend date is Wednesday, November 29th. Badger Meter’s dividend payout ratio is currently 45.61%.

In other Badger Meter news, VP Beverly L. P. Smiley sold 7,550 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $45.26, for a total value of $341,713.00. Following the sale, the vice president now directly owns 56,449 shares of the company’s stock, valued at $2,554,881.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard E. Johnson sold 7,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $45.55, for a total value of $327,960.00. Following the completion of the sale, the chief financial officer now directly owns 105,976 shares in the company, valued at $4,827,206.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,750 shares of company stock valued at $760,873. 4.50% of the stock is owned by company insiders.

BMI has been the subject of several research analyst reports. BidaskClub cut Badger Meter from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Stifel Nicolaus initiated coverage on Badger Meter in a research note on Monday, September 18th. They issued a “hold” rating and a $43.00 price objective for the company. Zacks Investment Research cut Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Sidoti raised their price objective on Badger Meter from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, Canaccord Genuity restated a “hold” rating and issued a $40.00 price objective on shares of Badger Meter in a research note on Friday, October 6th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $48.00.

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Badger Meter 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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Institutional Ownership by Quarter for Badger Meter (NYSE:BMI)

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