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

Badger Meter, Inc. (NYSE:BMI) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 1,483,200 shares, a growth 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 trading volume of 162,300 shares, the short-interest ratio is currently 9.1 days.

A number of equities research analysts recently issued reports on the company. 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. Zacks Investment Research downgraded HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. 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, VP Raymond G. Serdynski sold 6,703 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $56.53, for a total value of $378,920.59. Following the transaction, the vice president now owns 10,045 shares of the company’s stock, valued at $567,843.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard A. Meeusen sold 8,571 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $56.85, for a total value of $487,261.35. Following the completion of the transaction, the director now directly owns 74,582 shares in the company, valued at approximately $4,239,986.70. The disclosure for this sale can be found here. Insiders have sold 22,883 shares of company stock worth $1,279,032 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC grew its holdings in Badger Meter by 182.8% during the 1st quarter. Advisory Services Network LLC now owns 478 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 309 shares during the period. Bruderman Asset Management LLC bought a new position in Badger Meter in the 4th quarter valued at about $50,000. Quantamental Technologies LLC lifted its position in Badger Meter by 88.7% in the 1st quarter. Quantamental Technologies LLC now owns 2,340 shares of the scientific and technical instruments company’s stock valued at $130,000 after acquiring an additional 1,100 shares in the last quarter. Advisor Group Inc. lifted its position in Badger Meter by 6.7% in the 4th quarter. Advisor Group Inc. now owns 3,026 shares of the scientific and technical instruments company’s stock valued at $149,000 after acquiring an additional 189 shares in the last quarter. Finally, ETF Managers Group LLC lifted its position in Badger Meter by 10.3% in the 1st quarter. ETF Managers Group LLC now owns 3,054 shares of the scientific and technical instruments company’s stock valued at $170,000 after acquiring an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

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 firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.15 per share. 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 currently 38.96%.

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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