Municipal Employees Retirement System of Michigan increased its position in shares of Badger Meter, Inc. (NYSE:BMI) by 59.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,920 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,050 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Badger Meter were worth $535,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. First Personal Financial Services purchased a new position in Badger Meter in the second quarter valued at about $119,000. SG Americas Securities LLC purchased a new position in Badger Meter in the second quarter valued at about $140,000. Pinebridge Investments L.P. boosted its stake in Badger Meter by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 3,836 shares of the scientific and technical instruments company’s stock valued at $153,000 after acquiring an additional 38 shares during the last quarter. Rock Point Advisors LLC purchased a new position in Badger Meter in the third quarter valued at about $201,000. Finally, Sei Investments Co. boosted its stake in Badger Meter by 30,007.4% in the third quarter. Sei Investments Co. now owns 16,258 shares of the scientific and technical instruments company’s stock valued at $203,000 after acquiring an additional 16,204 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.
Shares of Badger Meter, Inc. (NYSE:BMI) opened at $45.75 on Tuesday. The company has a market cap of $1,339.17, a P/E ratio of 40.35 and a beta of 0.67. Badger Meter, Inc. has a 52 week low of $34.40 and a 52 week high of $52.10.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, November 29th. Badger Meter’s payout ratio is currently 45.61%.
BMI has been the topic of a number of research analyst reports. BidaskClub cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Stifel Nicolaus initiated coverage on shares of Badger Meter in a research note on Monday, September 18th. They issued a “hold” rating and a $43.00 target price on the stock. Zacks Investment Research cut shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Sidoti boosted their target price on shares of Badger Meter from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $40.00 target price on shares of Badger Meter in a research note on Friday, October 6th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $48.00.
In related news, VP Beverly L. P. Smiley sold 7,550 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $45.26, for a total transaction of $341,713.00. Following the sale, the vice president now directly owns 56,449 shares in the company, valued at approximately $2,554,881.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Fred J. Begale sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $45.60, for a total transaction of $91,200.00. Following the sale, the vice president now owns 7,609 shares in the company, valued at $346,970.40. The disclosure for this sale can be found here. Insiders have sold a total of 16,750 shares of company stock worth $760,873 over the last 90 days. 4.50% of the stock is currently owned by corporate insiders.
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Badger Meter Profile
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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