Badger Meter, Inc. (BMI) Trading Down 12.2% After Earnings Miss

Shares of Badger Meter, Inc. (NYSE:BMI) fell 12.2% during trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $42.00 and last traded at $44.60. 932,717 shares were traded during mid-day trading, an increase of 837% from the average session volume of 99,559 shares. The stock had previously closed at $50.80.

The scientific and technical instruments company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.08). Badger Meter had a return on equity of 12.76% and a net margin of 8.39%. The firm had revenue of $100.00 million during the quarter, compared to the consensus estimate of $102.86 million. During the same quarter in the prior year, the business posted $0.30 EPS. Badger Meter’s revenue was up 3.8% compared to the same quarter last year.

A number of brokerages have commented on BMI. Stifel Nicolaus reiterated a “hold” rating and issued a $43.00 price objective (down previously from $49.00) on shares of Badger Meter in a research report on Tuesday. BidaskClub upgraded Badger Meter from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Robert W. Baird reiterated a “hold” rating and issued a $44.00 price objective on shares of Badger Meter in a research report on Tuesday. Boenning Scattergood reiterated a “hold” rating on shares of Badger Meter in a research report on Friday, July 21st. Finally, Sidoti raised their price objective on Badger Meter from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Badger Meter currently has a consensus rating of “Hold” and a consensus target price of $48.00.

In related news, Director Andrew J. Policano sold 8,850 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $45.67, for a total transaction of $404,179.50. Following the completion of the transaction, the director now owns 32,561 shares in the company, valued at approximately $1,487,060.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kimberly K. Stoll sold 2,830 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $45.01, for a total value of $127,378.30. Following the transaction, the vice president now owns 12,223 shares of the company’s stock, valued at approximately $550,157.23. The disclosure for this sale can be found here. Insiders have sold a total of 63,340 shares of company stock valued at $2,859,651 in the last 90 days. 4.50% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC bought a new position in shares of Badger Meter during the 2nd quarter worth approximately $251,000. State Street Corp lifted its position in shares of Badger Meter by 4.7% during the 2nd quarter. State Street Corp now owns 715,440 shares of the scientific and technical instruments company’s stock worth $28,513,000 after buying an additional 32,322 shares during the period. Voya Investment Management LLC lifted its position in shares of Badger Meter by 8.7% during the 2nd quarter. Voya Investment Management LLC now owns 13,968 shares of the scientific and technical instruments company’s stock worth $557,000 after buying an additional 1,121 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Badger Meter by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,127,376 shares of the scientific and technical instruments company’s stock worth $44,926,000 after buying an additional 10,712 shares during the period. Finally, Suntrust Banks Inc. lifted its position in shares of Badger Meter by 3.3% during the 2nd quarter. Suntrust Banks Inc. now owns 32,257 shares of the scientific and technical instruments company’s stock worth $1,285,000 after buying an additional 1,033 shares during the period. Institutional investors and hedge funds own 83.96% of the company’s stock.

The company has a 50-day moving average of $47.68 and a 200-day moving average of $42.38. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 36.65 and a beta of 0.56.

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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.

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