Capital Fund Management S.A. acquired a new stake in shares of Badger Meter Inc. (NYSE:BMI) during the second quarter, Holdings Channel reports. The institutional investor acquired 10,300 shares of the company’s stock, valued at approximately $752,000.
Other hedge funds have also recently made changes to their positions in the company. Magnetar Financial LLC purchased a new stake in shares of Badger Meter during the first quarter valued at approximately $266,000. BNP Paribas Arbitrage SA increased its stake in shares of Badger Meter by 106.5% in the second quarter. BNP Paribas Arbitrage SA now owns 4,656 shares of the company’s stock worth $340,000 after buying an additional 2,401 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of 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 in the last quarter. Chilton Capital Management LLC bought a new stake in shares of Badger Meter during the first quarter worth about $379,000. Finally, Palo Capital Inc. bought a new stake in shares of Badger Meter during the second quarter worth about $380,000. Hedge funds and other institutional investors own 39.81% of the company’s stock.
Shares of Badger Meter Inc. (NYSE:BMI) traded up 0.54% during trading on Monday, hitting $33.41. 53,961 shares of the company’s stock were exchanged. Badger Meter Inc. has a 12-month low of $26.40 and a 12-month high of $39.36. The company has a market cap of $972.13 million, a P/E ratio of 30.94 and a beta of 0.63. The company has a 50-day moving average of $33.32 and a 200-day moving average of $34.98.
Badger Meter (NYSE:BMI) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.65 EPS for the quarter, meeting the consensus estimate of $0.65. The business had revenue of $102.80 million for the quarter, compared to the consensus estimate of $104.54 million. Badger Meter had a net margin of 7.81% and a return on equity of 13.19%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. On average, equities analysts expect that Badger Meter Inc. will post $1.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.23 dividend. This is an increase from Badger Meter’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Monday, August 29th. Badger Meter’s dividend payout ratio is 42.59%.
Separately, Zacks Investment Research upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Wednesday, September 21st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $32.88.
In other news, VP William R. A. Bergum sold 2,250 shares of the company’s stock in a transaction on Monday, September 12th. The shares were 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 approximately $288,478.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ronald H. Dix sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $68.72, for a total transaction of $137,440.00. Following the completion of the sale, the insider now directly owns 28,300 shares in the company, valued at $1,944,776. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.
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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