Badger Meter, Inc. (BMI) to Issue $0.15 Quarterly Dividend

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.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Tuesday, February 5th. The scientific and technical instruments company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Badger Meter had a net margin of 6.41% and a return on equity of 15.39%. The firm had revenue of $104.40 million during the quarter, compared to the consensus estimate of $103.54 million. During the same period last year, the firm earned $0.25 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Badger Meter will post 1.73 earnings per share for the current year.

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.

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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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Dividend History for Badger Meter (NYSE:BMI)

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