Badger Meter, Inc. (NYSE:BMI) Short Interest Update

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Badger Meter, Inc. (NYSE:BMI) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,483,200 shares, an increase of 9.2% from the May 15th total of 1,358,100 shares. Currently, 5.2% of the company’s stock are short sold. Based on an average daily volume of 162,300 shares, the short-interest ratio is presently 9.1 days.

NYSE BMI opened at $57.57 on Friday. Badger Meter has a fifty-two week low of $45.25 and a fifty-two week high of $61.57. The company has a market capitalization of $1.68 billion, a PE ratio of 37.38 and a beta of 0.82. The business’s fifty day simple moving average is $56.44.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Wednesday, April 17th. The scientific and technical instruments company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. The company had revenue of $104.90 million during the quarter, compared to analysts’ expectations of $111.47 million. Badger Meter had a return on equity of 16.13% and a net margin of 7.17%. Badger Meter’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. On average, research analysts predict that Badger Meter will post 1.69 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. Badger Meter’s payout ratio is 38.96%.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. Stifel Nicolaus raised QUALCOMM from a “hold” rating to a “buy” rating and increased their price target for the stock from $57.00 to $100.00 in a research report on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $52.60.

In other news, Director Richard A. Meeusen sold 8,571 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $56.85, for a total value of $487,261.35. Following the transaction, the director now owns 74,582 shares of the company’s stock, valued at $4,239,986.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Horst Gras sold 5,526 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $55.00, for a total value of $303,930.00. Following the completion of the transaction, the vice president now directly owns 6,651 shares in the company, valued at approximately $365,805. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,883 shares of company stock worth $1,279,032. Corporate insiders own 2.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Badger Meter by 1.1% in the fourth quarter. BlackRock Inc. now owns 4,289,877 shares of the scientific and technical instruments company’s stock valued at $211,103,000 after purchasing an additional 48,199 shares during the period. Dimensional Fund Advisors LP grew its holdings in Badger Meter by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,163,009 shares of the scientific and technical instruments company’s stock worth $57,231,000 after acquiring an additional 22,892 shares during the period. Copeland Capital Management LLC grew its holdings in Badger Meter by 9.0% during the 1st quarter. Copeland Capital Management LLC now owns 470,820 shares of the scientific and technical instruments company’s stock worth $26,196,000 after acquiring an additional 38,677 shares during the period. Norges Bank acquired a new stake in Badger Meter during the 4th quarter worth about $19,768,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Badger Meter by 0.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 385,247 shares of the scientific and technical instruments company’s stock worth $21,435,000 after acquiring an additional 1,554 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

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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