Badger Meter, Inc. (NYSE:BMI) Sees Large Increase in Short Interest

Badger Meter, Inc. (NYSE:BMI) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,160,000 shares, an increase of 22.8% from the November 30th total of 944,500 shares. Based on an average trading volume of 198,400 shares, the days-to-cover ratio is presently 5.8 days.

Badger Meter Trading Down 0.5 %

BMI traded down $1.14 on Tuesday, reaching $213.11. The stock had a trading volume of 54,219 shares, compared to its average volume of 181,716. The business’s 50-day moving average price is $217.24 and its two-hundred day moving average price is $207.35. Badger Meter has a 12-month low of $139.50 and a 12-month high of $239.11. The company has a market cap of $6.27 billion, a P/E ratio of 52.88, a price-to-earnings-growth ratio of 2.98 and a beta of 0.79.

Badger Meter (NYSE:BMI) last announced its earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The business had revenue of $208.44 million for the quarter, compared to analysts’ expectations of $212.08 million. Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. As a group, analysts predict that Badger Meter will post 4.19 earnings per share for the current year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Friday, November 22nd. Badger Meter’s dividend payout ratio (DPR) is 33.75%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their target price on Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Stifel Nicolaus upped their target price on Badger Meter from $203.00 to $208.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, Maxim Group upped their target price on Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Badger Meter has an average rating of “Hold” and an average target price of $216.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Badger Meter by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 337,391 shares of the scientific and technical instruments company’s stock valued at $62,873,000 after acquiring an additional 22,160 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Badger Meter by 2,204.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,341 shares of the scientific and technical instruments company’s stock worth $623,000 after acquiring an additional 3,196 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Badger Meter in the second quarter valued at $257,000. Commonwealth Equity Services LLC raised its position in Badger Meter by 36.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 34,520 shares of the scientific and technical instruments company’s stock valued at $6,433,000 after purchasing an additional 9,148 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Badger Meter by 13.0% in the 2nd quarter. Van ECK Associates Corp now owns 20,434 shares of the scientific and technical instruments company’s stock valued at $3,808,000 after buying an additional 2,353 shares during the period. Institutional investors and hedge funds own 89.01% of the company’s stock.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.