Badger Meter, Inc. (BMI) Plans Quarterly Dividend of $0.13
Badger Meter, Inc. (NYSE:BMI) declared a quarterly dividend on Friday, August 11th, RTT News reports. Investors of record on Thursday, August 31st will be given a dividend of 0.13 per share by the scientific and technical instruments company on Friday, September 15th. This represents a $0.52 annualized dividend and a dividend yield of 1.19%. This is a boost from Badger Meter’s previous quarterly dividend of $0.12.
Badger Meter has raised its dividend by an average of 7.1% per year over the last three years and has increased its dividend every year for the last 15 years. Badger Meter has a dividend payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Badger Meter to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 32.9%.
Badger Meter (NYSE BMI) traded up 1.38% during trading on Friday, hitting $44.20. 97,691 shares of the company traded hands. The firm has a market cap of $1.29 billion, a P/E ratio of 37.46 and a beta of 0.56. The firm has a 50 day moving average of $42.18 and a 200 day moving average of $38.79. Badger Meter has a one year low of $29.30 and a one year high of $46.85.
Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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%. Badger Meter’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. On average, analysts expect that Badger Meter will post $1.29 earnings per share for the current fiscal year.
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A number of analysts have weighed in on BMI shares. BidaskClub downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research raised shares of Badger Meter from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Canaccord Genuity reissued a “hold” rating and issued a $37.00 price target on shares of Badger Meter in a report on Wednesday, May 24th. Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a report on Friday, July 21st. Finally, Sidoti reissued a “buy” rating and issued a $52.00 price target (up from $50.00) on shares of Badger Meter in a report on Monday, June 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $42.00.
In other news, Chairman Richard A. Meeusen sold 10,699 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $40.96, for a total value of $438,231.04. Following the completion of the transaction, the chairman now owns 178,720 shares in the company, valued at approximately $7,320,371.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ronald H. Dix sold 2,000 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $41.07, for a total transaction of $82,140.00. Following the completion of the transaction, the insider now owns 43,000 shares of the company’s stock, valued at approximately $1,766,010. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,776 shares of company stock valued at $3,858,414. Corporate insiders own 4.50% of the company’s stock.
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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