OP Asset Management Ltd Makes New $654,000 Investment in Badger Meter, Inc. $BMI

OP Asset Management Ltd bought a new position in shares of Badger Meter, Inc. (NYSE:BMI) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,294 shares of the scientific and technical instruments company’s stock, valued at approximately $654,000.

A number of other hedge funds have also modified their holdings of BMI. Brighton Jones LLC acquired a new position in Badger Meter during the fourth quarter worth about $227,000. NewEdge Advisors LLC lifted its stake in Badger Meter by 328.0% in the 1st quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company’s stock worth $717,000 after purchasing an additional 2,886 shares in the last quarter. Cetera Investment Advisers lifted its stake in Badger Meter by 10.6% in the 2nd quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company’s stock worth $572,000 after purchasing an additional 223 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Badger Meter during the 2nd quarter worth approximately $200,000. Finally, California Public Employees Retirement System boosted its holdings in shares of Badger Meter by 11.2% during the 2nd quarter. California Public Employees Retirement System now owns 50,225 shares of the scientific and technical instruments company’s stock worth $12,303,000 after purchasing an additional 5,041 shares during the last quarter. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Price Performance

Shares of NYSE BMI opened at $148.66 on Wednesday. The company has a market capitalization of $4.34 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.49 and a beta of 0.68. The company has a 50 day simple moving average of $126.04 and a 200-day simple moving average of $148.55. Badger Meter, Inc. has a 1 year low of $112.09 and a 1 year high of $249.56.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 EPS for the quarter. The firm had revenue of $220.71 million for the quarter. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%. As a group, research analysts expect that Badger Meter, Inc. will post 4.51 EPS for the current year.

Badger Meter Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 22nd. Badger Meter’s dividend payout ratio is 36.12%.

Analyst Ratings Changes

BMI has been the subject of several recent research reports. Maxim Group cut Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Weiss Ratings lowered Badger Meter from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Zacks Research lowered Badger Meter from a “hold” rating to a “strong sell” rating in a research note on Friday, June 5th. JPMorgan Chase & Co. dropped their target price on Badger Meter from $190.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Finally, Wall Street Zen lowered Badger Meter from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $155.86.

Badger Meter News Roundup

Here are the key news stories impacting Badger Meter this week:

• Negative Sentiment: Multiple law firms issued reminders and investor alerts about the ongoing class action, increasing legal overhang and uncertainty for BMI shareholders. Article Title
• Negative Sentiment: The core allegations in the lawsuit may weigh on sentiment, including claims that Badger Meter misled investors about demand strength and near-term order trends. Article Title
• Negative Sentiment: One law firm specifically pointed to allegations that prior guidance of “high single-digit” growth was followed by a 9% revenue decline, which could reinforce concerns about execution and reporting credibility. Article Title

Insiders Place Their Bets

In related news, CEO Kenneth Bockhorst acquired 2,200 shares of Badger Meter stock in a transaction that occurred on Tuesday, April 21st. The shares were purchased at an average cost of $117.53 per share, for a total transaction of $258,566.00. Following the acquisition, the chief executive officer owned 51,676 shares in the company, valued at approximately $6,073,480.28. This represents a 4.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christina M. Tarantino bought 870 shares of the stock in a transaction on Tuesday, April 21st. The shares were bought at an average cost of $113.80 per share, with a total value of $99,006.00. Following the purchase, the vice president owned 1,801 shares of the company’s stock, valued at $204,953.80. This trade represents a 93.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 6,628 shares of company stock worth $777,128. Corporate insiders own 1.00% of the company’s stock.

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.