Badger Meter, Inc. (BMI) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,137,106 shares of the scientific and technical instruments company’s stock after buying an additional 15,765 shares during the period. Dimensional Fund Advisors LP’s holdings in Badger Meter were worth $50,828,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. TD Asset Management Inc. acquired a new stake in Badger Meter during the 2nd quarter worth approximately $746,000. First Trust Advisors LP raised its holdings in Badger Meter by 2.4% during the 2nd quarter. First Trust Advisors LP now owns 187,186 shares of the scientific and technical instruments company’s stock worth $8,367,000 after buying an additional 4,316 shares during the period. Nuance Investments LLC acquired a new stake in Badger Meter during the 2nd quarter worth approximately $9,780,000. Victory Capital Management Inc. raised its holdings in Badger Meter by 37.4% during the 1st quarter. Victory Capital Management Inc. now owns 6,497 shares of the scientific and technical instruments company’s stock worth $306,000 after buying an additional 1,767 shares during the period. Finally, US Bancorp DE raised its holdings in Badger Meter by 1.6% during the 2nd quarter. US Bancorp DE now owns 72,275 shares of the scientific and technical instruments company’s stock worth $3,231,000 after buying an additional 1,116 shares during the period. Hedge funds and other institutional investors own 85.71% of the company’s stock.

NYSE BMI opened at $53.10 on Friday. Badger Meter, Inc. has a 12-month low of $41.00 and a 12-month high of $56.40. The company has a market capitalization of $1.55 billion, a PE ratio of 44.96, a price-to-earnings-growth ratio of 4.14 and a beta of 0.70.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Wednesday, July 18th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. Badger Meter had a net margin of 6.96% and a return on equity of 12.51%. The company had revenue of $113.65 million for the quarter, compared to the consensus estimate of $111.03 million. During the same period last year, the company earned $0.36 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. sell-side analysts predict that Badger Meter, Inc. will post 1.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This is an increase from Badger Meter’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.13%. Badger Meter’s dividend payout ratio (DPR) is 50.42%.

In other news, Director Todd J. Teske sold 12,000 shares of Badger Meter stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $51.15, for a total value of $613,800.00. Following the sale, the director now directly owns 28,984 shares in the company, valued at $1,482,531.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard E. Johnson sold 20,000 shares of Badger Meter stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $52.43, for a total transaction of $1,048,600.00. Following the completion of the sale, the vice president now owns 85,982 shares in the company, valued at $4,508,036.26. The disclosure for this sale can be found here. Insiders sold 46,362 shares of company stock worth $2,426,234 over the last quarter. 2.80% of the stock is owned by corporate insiders.

Several brokerages have commented on BMI. ValuEngine upgraded shares of Badger Meter from a “hold” rating to a “buy” rating in a report on Saturday, June 16th. Zacks Investment Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 19th. Robert W. Baird restated a “hold” rating and set a $45.00 target price on shares of Badger Meter in a report on Friday, July 20th. Canaccord Genuity upgraded shares of Badger Meter from a “sell” rating to a “hold” rating and raised their target price for the stock from $40.00 to $44.00 in a report on Friday, June 15th. Finally, Stifel Nicolaus raised their target price on shares of Badger Meter from $41.00 to $49.00 and gave the stock a “hold” rating in a report on Friday, July 20th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $51.80.

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.

Further Reading: S&P 500 Index

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

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