Raiffeisen Bank International AG Buys 8,000 Shares of Badger Meter, Inc. $BMI

Raiffeisen Bank International AG lifted its stake in Badger Meter, Inc. (NYSE:BMI) by 66.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 20,000 shares of the scientific and technical instruments company’s stock after buying an additional 8,000 shares during the quarter. Raiffeisen Bank International AG’s holdings in Badger Meter were worth $2,773,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in Badger Meter by 76.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. purchased a new position in Badger Meter in the fourth quarter worth about $27,000. Public Employees Retirement System of Ohio purchased a new position in Badger Meter in the second quarter worth about $27,000. Dunhill Financial LLC bought a new position in shares of Badger Meter in the second quarter worth approximately $28,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Badger Meter in the second quarter worth approximately $30,000. Institutional investors own 89.01% of the company’s stock.

Insider Buying and Selling at Badger Meter

In other news, VP Edward Callahan purchased 751 shares of the stock in a transaction dated Thursday, July 30th. The shares were purchased at an average cost of $135.25 per share, with a total value of $101,572.75. Following the acquisition, the vice president directly owned 1,937 shares of the company’s stock, valued at $261,979.25. This represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by insiders.

Badger Meter Stock Down 2.9%

Shares of BMI stock opened at $132.14 on Friday. The company has a 50 day moving average price of $137.43 and a 200-day moving average price of $137.99. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $204.00. The firm has a market capitalization of $3.83 billion, a PE ratio of 30.87, a P/E/G ratio of 3.36 and a beta of 0.65.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The company had revenue of $220.30 million for the quarter, compared to the consensus estimate of $220.59 million. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts anticipate that Badger Meter, Inc. will post 4.5 earnings per share for the current year.

Badger Meter Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, August 28th. This represents a $1.76 dividend on an annualized basis and a yield of 1.3%. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s dividend payout ratio (DPR) is presently 41.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus set a $170.00 price target on shares of Badger Meter and gave the company a “buy” rating in a research report on Monday, July 20th. Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Robert W. Baird set a $167.00 target price on Badger Meter and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Barclays reissued an “underweight” rating and issued a $112.00 target price (up from $109.00) on shares of Badger Meter in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. decreased their price target on Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $164.00.

Badger Meter Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.