Badger Meter (NYSE:BMI) Trading Down 4.2% – Here’s What Happened

Badger Meter, Inc. (NYSE:BMI)’s share price was down 4.2% on Friday . The company traded as low as $212.61 and last traded at $209.79. Approximately 40,216 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 164,742 shares. The stock had previously closed at $219.02.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BMI. Robert W. Baird upped their price objective on Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Stifel Nicolaus lifted their price target on shares of Badger Meter from $203.00 to $208.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Finally, Maxim Group upped their target price on Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $216.00.

Badger Meter Price Performance

The firm has a market capitalization of $6.20 billion, a PE ratio of 52.25, a price-to-earnings-growth ratio of 2.42 and a beta of 0.79. The stock’s 50-day moving average price is $218.20 and its 200 day moving average price is $210.28.

Badger Meter Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.36 annualized dividend and a dividend yield of 0.65%. Badger Meter’s dividend payout ratio is currently 33.75%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BMI. R Squared Ltd purchased a new stake in shares of Badger Meter during the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new stake in Badger Meter in the 4th quarter worth approximately $39,000. ORG Partners LLC acquired a new stake in Badger Meter during the fourth quarter valued at $42,000. Blue Trust Inc. increased its stake in shares of Badger Meter by 1,016.7% in the 3rd quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company’s stock valued at $44,000 after purchasing an additional 183 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Badger Meter by 61.3% during the third quarter. GAMMA Investing LLC now owns 805 shares of the scientific and technical instruments company’s stock worth $176,000 after acquiring an additional 306 shares during the period. Hedge funds and other institutional investors own 89.01% of the company’s stock.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.