Badger Meter, Inc. (NYSE:BMI) announced a quarterly dividend on Friday, February 9th, RTT News reports. Stockholders of record on Wednesday, February 28th will be given a dividend of 0.13 per share by the scientific and technical instruments company on Thursday, March 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.11%.
Badger Meter has raised its dividend by an average of 9.8% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Badger Meter has a payout ratio of 44.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Badger Meter to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 29.5%.
Shares of Badger Meter (BMI) opened at $46.70 on Friday. Badger Meter has a 12 month low of $34.40 and a 12 month high of $52.10. The company has a market cap of $1,372.65, a price-to-earnings ratio of 39.96 and a beta of 0.64.
In related news, CFO Richard E. Johnson sold 7,200 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $45.55, for a total transaction of $327,960.00. Following the transaction, the chief financial officer now owns 105,976 shares in the company, valued at approximately $4,827,206.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Fred J. Begale sold 2,000 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 7,609 shares in the company, valued at approximately $346,970.40. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.
A number of equities research analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of Badger Meter from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday. Stifel Nicolaus reduced their price objective on shares of Badger Meter from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Zacks Investment Research raised shares of Badger Meter from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Thursday, January 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.60.
Badger Meter Company 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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