MetLife Investment Advisors LLC lifted its holdings in Badger Meter, Inc. (NYSE:BMI) by 35.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,537 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,897 shares during the period. MetLife Investment Advisors LLC’s holdings in Badger Meter were worth $982,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC acquired a new position in shares of Badger Meter in the 3rd quarter worth approximately $153,000. BlueMountain Capital Management LLC acquired a new position in shares of Badger Meter in the 3rd quarter worth approximately $163,000. Ibex Investors LLC acquired a new position in shares of Badger Meter in the 3rd quarter worth approximately $200,000. Ellenbecker Investment Group acquired a new position in shares of Badger Meter in the 3rd quarter worth approximately $203,000. Finally, Vident Investment Advisory LLC acquired a new position in shares of Badger Meter in the second quarter worth about $212,000. 84.64% of the stock is currently owned by institutional investors.
Shares of BMI opened at $51.35 on Friday. Badger Meter, Inc. has a one year low of $41.00 and a one year high of $57.12. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 3.22 and a beta of 0.82.
The company also recently announced a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Thursday, November 29th. Badger Meter’s payout ratio is 50.42%.
Several research analysts have commented on BMI shares. Zacks Investment Research upgraded shares of Badger Meter from a “hold” rating to a “strong-buy” rating and set a $58.00 target price for the company in a report on Thursday, December 20th. Berenberg Bank upgraded shares of Badger Meter from a “sell” rating to a “hold” rating in a report on Monday, January 7th. Maxim Group reiterated a “buy” rating and issued a $65.00 target price on shares of Badger Meter in a report on Monday, January 7th. Finally, Stifel Nicolaus raised their target price on shares of Badger Meter from $49.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, October 8th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $50.33.
In related news, VP Richard E. Johnson sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $50.43, for a total transaction of $958,170.00. Following the completion of the sale, the vice president now directly owns 56,982 shares in the company, valued at $2,873,602.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard A. Meeusen sold 22,430 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $50.01, for a total transaction of $1,121,724.30. Following the sale, the chairman now owns 83,562 shares of the company’s stock, valued at $4,178,935.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,982 shares of company stock valued at $2,594,863. Corporate insiders own 2.80% of the company’s stock.
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Badger Meter Profile
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
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