Badger Meter, Inc. (NYSE:BMI) announced a quarterly dividend on Friday, February 9th, RTT News reports. Shareholders 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 1.03%. The ex-dividend date of this dividend is Tuesday, February 27th.
Badger Meter has raised its dividend by an average of 9.8% annually over the last three years and has raised its dividend every year for the last 16 years. Badger Meter has a dividend payout ratio of 44.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 (NYSE BMI) opened at $50.25 on Thursday. The stock has a market capitalization of $1,451.26, a PE ratio of 42.58, a price-to-earnings-growth ratio of 2.09 and a beta of 0.64. Badger Meter has a 52 week low of $34.40 and a 52 week high of $52.10.
Badger Meter (NYSE:BMI) last released its quarterly earnings results on Tuesday, February 6th. The scientific and technical instruments company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $96.65 million during the quarter, compared to the consensus estimate of $98.08 million. Badger Meter had a return on equity of 12.78% and a net margin of 8.59%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. equities analysts forecast that Badger Meter will post 1.6 EPS for the current year.
In related news, CFO Richard E. Johnson sold 7,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $45.55, for a total transaction of $327,960.00. Following the completion of the transaction, the chief financial officer now directly owns 105,976 shares in the company, valued at approximately $4,827,206.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard A. Meeusen sold 6,089 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $49.83, for a total value of $303,414.87. Following the transaction, the chief executive officer now owns 147,531 shares of the company’s stock, valued at $7,351,469.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,289 shares of company stock valued at $722,575. 4.50% of the stock is currently owned by corporate insiders.
A number of equities research analysts have issued reports on the company. Stifel Nicolaus cut their price target on Badger Meter from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Wednesday, February 7th. Robert W. Baird boosted their price target on Badger Meter from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Finally, Zacks Investment Research upgraded Badger Meter from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Thursday, January 18th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.60.
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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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