Badger Meter, Inc. (NYSE:BMI) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 3,230,000 shares, a growth of 10.6% from the September 30th total of 2,920,000 shares. Based on an average daily trading volume, of 210,700 shares, the days-to-cover ratio is presently 15.3 days. Approximately 11.3% of the shares of the stock are sold short.
Hedge funds and other institutional investors have recently modified their holdings of the company. Stonebridge Capital Advisors LLC purchased a new position in shares of Badger Meter during the second quarter worth about $42,000. O Shares Investment Advisers LLC purchased a new position in shares of Badger Meter during the second quarter worth about $203,000. Impax Asset Management Group plc grew its holdings in shares of Badger Meter by 1.9% during the second quarter. Impax Asset Management Group plc now owns 1,341,918 shares of the scientific and technical instruments company’s stock worth $80,099,000 after purchasing an additional 24,465 shares in the last quarter. First Personal Financial Services grew its holdings in shares of Badger Meter by 2.7% during the second quarter. First Personal Financial Services now owns 37,144 shares of the scientific and technical instruments company’s stock worth $2,217,000 after purchasing an additional 985 shares in the last quarter. Finally, Lowe Wealth Advisors LLC purchased a new position in shares of Badger Meter during the second quarter worth about $271,000. 83.84% of the stock is owned by institutional investors.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Badger Meter from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Monday, October 21st. Maxim Group reaffirmed a “buy” rating and set a $64.00 target price on shares of Badger Meter in a report on Wednesday, October 16th. ValuEngine lowered Badger Meter from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird lifted their target price on Badger Meter from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Badger Meter currently has a consensus rating of “Hold” and a consensus target price of $57.00.
Shares of NYSE BMI traded up $0.63 during midday trading on Friday, hitting $58.68. 224,520 shares of the company’s stock were exchanged, compared to its average volume of 263,570. Badger Meter has a 12-month low of $46.69 and a 12-month high of $61.58. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 38.10 and a beta of 0.78. The business’s fifty day moving average price is $56.29 and its two-hundred day moving average price is $54.88.
Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Thursday, October 17th. The scientific and technical instruments company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Badger Meter had a return on equity of 14.85% and a net margin of 10.95%. The company had revenue of $108.60 million during the quarter, compared to analyst estimates of $110.39 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Badger Meter’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts forecast that Badger Meter will post 1.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, November 27th. Badger Meter’s payout ratio is 44.16%.
Badger Meter Company Profile
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
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