Badger Meter, Inc. (NYSE:BMI) declared a quarterly dividend on Monday, February 11th, Wall Street Journal reports. Investors of record on Thursday, February 28th will be given a dividend of 0.15 per share by the scientific and technical instruments company on Friday, March 15th. This represents a $0.60 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, February 27th.
Badger Meter has increased its dividend payment by an average of 12.8% per year over the last three years and has increased its dividend annually for the last 17 consecutive years. Badger Meter has a dividend payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Badger Meter to earn $1.94 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 30.9%.
BMI traded down $0.17 on Monday, hitting $59.22. The company’s stock had a trading volume of 133,562 shares, compared to its average volume of 106,316. Badger Meter has a 12 month low of $41.00 and a 12 month high of $59.98. The company has a market cap of $1.73 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 3.82 and a beta of 0.79.
Several research analysts have commented on the stock. Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a report on Tuesday, February 5th. Maxim Group set a $65.00 price target on shares of Badger Meter and gave the company a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research raised shares of Badger Meter from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, January 8th. Finally, Berenberg Bank raised shares of Badger Meter from a “sell” rating to a “hold” rating in a report on Monday, January 7th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $50.33.
In other news, VP Beverly L. P. Smiley sold 4,000 shares of Badger Meter stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $54.42, for a total transaction of $217,680.00. Following the completion of the sale, the vice president now directly owns 48,516 shares of the company’s stock, valued at approximately $2,640,240.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Horst Gras sold 2,250 shares of Badger Meter stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $53.57, for a total transaction of $120,532.50. Following the sale, the vice president now directly owns 12,650 shares of the company’s stock, valued at $677,660.50. The disclosure for this sale can be found here. Insiders have sold a total of 9,552 shares of company stock valued at $514,969 over the last ninety days. 2.80% of the stock is currently owned by insiders.
About Badger Meter
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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