Badger Meter Inc. (BMI) Issues Quarterly Earnings Results
Badger Meter Inc. (NYSE:BMI) posted its quarterly earnings data on Tuesday. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.03. The company earned $96.30 million during the quarter, compared to analyst estimates of $105.66 million. Badger Meter had a return on equity of 13.19% and a net margin of 7.81%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 EPS.
Shares of Badger Meter (NYSE:BMI) opened at 33.01 on Tuesday. The firm has a market capitalization of $960.49 million, a P/E ratio of 30.56 and a beta of 0.63. The firm has a 50-day moving average of $33.19 and a 200-day moving average of $35.00. Badger Meter has a one year low of $26.40 and a one year high of $39.36.
In other Badger Meter news, insider Ronald H. Dix sold 2,000 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $68.72, for a total transaction of $137,440.00. Following the completion of the transaction, the insider now directly owns 28,300 shares in the company, valued at $1,944,776. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Fred J. Begale sold 1,720 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $66.00, for a total value of $113,520.00. Following the transaction, the vice president now owns 2,336 shares of the company’s stock, valued at $154,176. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Profund Advisors LLC bought a new position in Badger Meter during the second quarter valued at about $200,000. Bridgeway Capital Management Inc. bought a new position in Badger Meter during the second quarter valued at about $230,000. Raymond James & Associates raised its position in Badger Meter by 7.3% in the second quarter. Raymond James & Associates now owns 3,280 shares of the company’s stock valued at $240,000 after buying an additional 222 shares in the last quarter. AQR Capital Management LLC bought a new position in Badger Meter during the second quarter valued at about $316,000. Finally, Parametric Portfolio Associates LLC raised its position in Badger Meter by 9.4% in the second quarter. Parametric Portfolio Associates LLC now owns 5,729 shares of the company’s stock valued at $418,000 after buying an additional 493 shares in the last quarter. Hedge funds and other institutional investors own 39.86% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a report on Monday, July 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $32.88.
Badger Meter Company Profile
Badger Meter, Inc is engaged in flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers across the world. The Company’s products, measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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