Tidal Investments LLC lessened its holdings in shares of Badger Meter, Inc. (NYSE:BMI – Free Report) by 9.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,423 shares of the scientific and technical instruments company’s stock after selling 16,095 shares during the period. Tidal Investments LLC’s holdings in Badger Meter were worth $21,875,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of BMI. Caitong International Asset Management Co. Ltd lifted its holdings in Badger Meter by 76.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock worth $26,000 after buying an additional 65 shares during the period. Godfrey Financial Associates Inc. purchased a new position in shares of Badger Meter during the fourth quarter valued at approximately $27,000. Public Employees Retirement System of Ohio bought a new position in shares of Badger Meter during the second quarter valued at approximately $27,000. Dunhill Financial LLC purchased a new stake in Badger Meter in the second quarter worth $28,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Badger Meter in the second quarter worth $29,000. Institutional investors own 89.01% of the company’s stock.
Insider Activity
In other Badger Meter news, VP Edward Callahan acquired 751 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were acquired at an average price of $135.25 per share, with a total value of $101,572.75. Following the completion of the purchase, the vice president directly owned 1,937 shares of the company’s stock, valued at approximately $261,979.25. The trade was a 63.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.
Analyst Ratings Changes
View Our Latest Stock Analysis on BMI
Badger Meter Stock Down 2.6%
NYSE BMI opened at $124.50 on Friday. The firm has a market capitalization of $3.61 billion, a PE ratio of 29.09, a P/E/G ratio of 3.15 and a beta of 0.65. The stock’s 50 day moving average is $136.08 and its 200 day moving average is $136.97. Badger Meter, Inc. has a twelve month low of $112.09 and a twelve month high of $204.00.
Badger Meter (NYSE:BMI – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $220.30 million during the quarter, compared to the consensus estimate of $220.59 million. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, research analysts anticipate that Badger Meter, Inc. will post 4.5 earnings per share for the current year.
Badger Meter Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 28th. This is a positive change from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s dividend payout ratio (DPR) is 41.12%.
Badger Meter Profile
Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.
The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.
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