Badger Meter, Inc. (NYSE:BMI) Announces $0.20 Quarterly Dividend

Badger Meter, Inc. (NYSE:BMIGet Rating) announced a quarterly dividend on Friday, April 29th, RTT News reports. Investors of record on Friday, May 27th will be paid a dividend of 0.20 per share by the scientific and technical instruments company on Friday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.99%.

Badger Meter has increased its dividend payment by an average of 10.7% annually over the last three years and has increased its dividend every year for the last 30 years. Badger Meter has a payout ratio of 32.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Badger Meter to earn $2.45 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 32.7%.

Shares of BMI opened at $80.69 on Friday. The firm has a market cap of $2.36 billion, a P/E ratio of 38.42 and a beta of 0.76. The company’s 50-day moving average price is $95.14 and its 200 day moving average price is $100.06. Badger Meter has a 12-month low of $80.56 and a 12-month high of $112.36.

Badger Meter (NYSE:BMIGet Rating) last issued its quarterly earnings results on Tuesday, April 19th. The scientific and technical instruments company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.02). The business had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $132.54 million. Badger Meter had a return on equity of 15.49% and a net margin of 11.82%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. As a group, research analysts anticipate that Badger Meter will post 2.15 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its position in shares of Badger Meter by 0.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 23,804 shares of the scientific and technical instruments company’s stock worth $2,537,000 after buying an additional 221 shares in the last quarter. LPL Financial LLC grew its position in shares of Badger Meter by 8.8% during the third quarter. LPL Financial LLC now owns 6,861 shares of the scientific and technical instruments company’s stock worth $706,000 after buying an additional 557 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Badger Meter by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 40,551 shares of the scientific and technical instruments company’s stock worth $4,321,000 after buying an additional 861 shares in the last quarter. Vident Investment Advisory LLC grew its position in shares of Badger Meter by 22.0% during the fourth quarter. Vident Investment Advisory LLC now owns 9,180 shares of the scientific and technical instruments company’s stock worth $978,000 after buying an additional 1,655 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Badger Meter by 113.7% in the fourth quarter. Advisors Asset Management Inc. now owns 4,127 shares of the scientific and technical instruments company’s stock valued at $440,000 after purchasing an additional 2,196 shares in the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

BMI has been the topic of a number of recent research reports. Maxim Group upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Monday, January 31st. Stifel Nicolaus cut their price target on shares of Badger Meter from $93.00 to $88.00 in a research note on Wednesday, April 20th. Zacks Investment Research upgraded shares of Badger Meter from a “sell” rating to a “hold” rating and set a $92.00 price target on the stock in a research note on Thursday, April 21st. Finally, StockNews.com downgraded Badger Meter from a “buy” rating to a “hold” rating in a research report on Saturday, April 23rd.

About Badger Meter (Get Rating)

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.

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Dividend History for Badger Meter (NYSE:BMI)

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