Essex Investment Management Co. LLC Has $867,000 Stake in Badger Meter, Inc. (NYSE:BMI)

Essex Investment Management Co. LLC lowered its stake in Badger Meter, Inc. (NYSE:BMI) by 3.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 21,754 shares of the scientific and technical instruments company’s stock after selling 732 shares during the period. Essex Investment Management Co. LLC owned about 0.07% of Badger Meter worth $867,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in Badger Meter by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,210 shares of the scientific and technical instruments company’s stock valued at $117,000 after buying an additional 60 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Badger Meter during the first quarter valued at approximately $135,000. Clean Yield Group bought a new stake in Badger Meter during the first quarter valued at approximately $153,000. Victory Capital Management Inc. increased its stake in Badger Meter by 33.2% in the first quarter. Victory Capital Management Inc. now owns 4,475 shares of the scientific and technical instruments company’s stock valued at $164,000 after buying an additional 1,116 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Badger Meter during the first quarter valued at approximately $213,000. 84.36% of the stock is owned by institutional investors and hedge funds.

Badger Meter, Inc. (BMI) opened at 44.20 on Friday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 37.46 and a beta of 0.56. Badger Meter, Inc. has a 52-week low of $29.30 and a 52-week high of $46.85. The firm has a 50-day moving average price of $42.31 and a 200 day moving average price of $38.84.

Badger Meter (NYSE:BMI) last released its earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $104.17 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. On average, equities research analysts predict that Badger Meter, Inc. will post $1.29 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.18%. This is a boost from Badger Meter’s previous quarterly dividend of $0.12. Badger Meter’s dividend payout ratio (DPR) is currently 39.32%.

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BMI has been the topic of several recent analyst reports. Sidoti restated a “buy” rating and issued a $52.00 price target (up previously from $50.00) on shares of Badger Meter in a report on Monday, June 19th. BidaskClub upgraded Badger Meter from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a research note on Friday, July 21st. Zacks Investment Research raised Badger Meter from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Canaccord Genuity reissued a “hold” rating and set a $37.00 price target on shares of Badger Meter in a research note on Wednesday, May 24th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $42.00.

In other news, VP Beverly L. P. Smiley sold 19,610 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $45.14, for a total transaction of $885,195.40. Following the completion of the sale, the vice president now owns 68,926 shares in the company, valued at approximately $3,111,319.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Beverly L. P. Smiley sold 22,100 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $40.30, for a total transaction of $890,630.00. Following the sale, the vice president now owns 95,633 shares of the company’s stock, valued at approximately $3,854,009.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,776 shares of company stock valued at $3,858,414. Corporate insiders own 4.50% of the company’s stock.

Badger Meter Company Profile

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.

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

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