Comerica Bank Sells 1,717 Shares of Badger Meter, Inc. (BMI)

Comerica Bank lowered its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,601 shares of the scientific and technical instruments company’s stock after selling 1,717 shares during the quarter. Comerica Bank owned about 0.11% of Badger Meter worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BMI. Teachers Advisors LLC raised its holdings in shares of Badger Meter by 16.1% during the 4th quarter. Teachers Advisors LLC now owns 52,418 shares of the scientific and technical instruments company’s stock valued at $1,937,000 after purchasing an additional 7,256 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Badger Meter by 1.3% during the 1st quarter. Bank of Montreal Can now owns 17,215 shares of the scientific and technical instruments company’s stock valued at $633,000 after purchasing an additional 221 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Badger Meter by 1.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the scientific and technical instruments company’s stock valued at $437,000 after purchasing an additional 200 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Badger Meter by 6.5% during the 1st quarter. Wells Fargo & Company MN now owns 794,340 shares of the scientific and technical instruments company’s stock valued at $29,192,000 after purchasing an additional 48,525 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Badger Meter by 6.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 39,846 shares of the scientific and technical instruments company’s stock valued at $1,463,000 after purchasing an additional 2,436 shares in the last quarter. Institutional investors and hedge funds own 84.25% of the company’s stock.

In other news, VP Kimberly K. Stoll sold 2,830 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $45.01, for a total value of $127,378.30. Following the sale, the vice president now owns 12,223 shares of the company’s stock, valued at $550,157.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Beverly L. P. Smiley sold 7,550 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $45.26, for a total transaction of $341,713.00. Following the completion of the sale, the vice president now directly owns 56,449 shares in the company, valued at approximately $2,554,881.74. The disclosure for this sale can be found here. In the last three months, insiders sold 63,340 shares of company stock worth $2,859,651. 4.50% of the stock is currently owned by insiders.

Badger Meter, Inc. (NYSE:BMI) opened at 45.50 on Friday. The stock’s 50 day moving average is $44.91 and its 200-day moving average is $40.13. Badger Meter, Inc. has a 12-month low of $29.30 and a 12-month high of $46.85. The company has a market cap of $1.32 billion, a P/E ratio of 38.56 and a beta of 0.57.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $104.17 million for the quarter, compared to analyst estimates of $108.02 million. Badger Meter had a net margin of 8.67% and a return on equity of 13.19%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Analysts predict that Badger Meter, Inc. will post $1.28 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Tuesday, August 29th. This is a positive change from Badger Meter’s previous quarterly dividend of $0.12. Badger Meter’s payout ratio is currently 44.44%.

A number of research firms have recently weighed in on BMI. BidaskClub upgraded shares of Badger Meter from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Boenning Scattergood restated a “hold” rating on shares of Badger Meter in a report on Friday, July 21st. Zacks Investment Research upgraded shares of Badger Meter from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Sidoti restated a “buy” rating and set a $52.00 price target (up previously from $50.00) on shares of Badger Meter in a report on Monday, June 19th. Finally, Canaccord Genuity restated a “hold” rating and set a $37.00 price target on shares of Badger Meter in a report on Wednesday, May 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $42.00.

ILLEGAL ACTIVITY WARNING: “Comerica Bank Sells 1,717 Shares of Badger Meter, Inc. (BMI)” was posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this story can be viewed at https://www.chaffeybreeze.com/2017/09/15/comerica-bank-sells-1717-shares-of-badger-meter-inc-bmi.html.

About Badger Meter

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.

Want to see what other hedge funds are holding BMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Badger Meter, Inc. (NYSE:BMI).

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

Receive News & Ratings for Badger Meter Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Badger Meter Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply