Amalgamated Bank Has $1.89 Million Stake in Badger Meter, Inc. (NYSE:BMI)

Amalgamated Bank lowered its holdings in Badger Meter, Inc. (NYSE:BMI) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,665 shares of the scientific and technical instruments company’s stock after selling 318 shares during the period. Amalgamated Bank’s holdings in Badger Meter were worth $1,893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. QRG Capital Management Inc. purchased a new position in Badger Meter during the third quarter valued at approximately $230,000. First Interstate Bank increased its stake in shares of Badger Meter by 38.8% in the third quarter. First Interstate Bank now owns 2,423 shares of the scientific and technical instruments company’s stock worth $529,000 after acquiring an additional 677 shares during the last quarter. Oak Ridge Investments LLC purchased a new stake in shares of Badger Meter during the third quarter worth $2,393,000. Congress Asset Management Co. boosted its position in Badger Meter by 2.8% during the third quarter. Congress Asset Management Co. now owns 295,027 shares of the scientific and technical instruments company’s stock valued at $64,437,000 after purchasing an additional 7,967 shares during the last quarter. Finally, Cavalier Investments LLC grew its stake in Badger Meter by 6.3% in the third quarter. Cavalier Investments LLC now owns 12,871 shares of the scientific and technical instruments company’s stock valued at $2,811,000 after purchasing an additional 759 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Stock Performance

Shares of NYSE:BMI opened at $225.00 on Wednesday. The stock’s 50-day moving average is $212.10 and its 200-day moving average is $200.46. The company has a market cap of $6.62 billion, a P/E ratio of 55.83, a P/E/G ratio of 2.81 and a beta of 0.78. Badger Meter, Inc. has a 52-week low of $139.50 and a 52-week high of $230.76.

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

Badger Meter Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Friday, November 22nd. Badger Meter’s dividend payout ratio (DPR) is presently 33.75%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMI. Maxim Group lifted their price target on Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday, October 18th. Robert W. Baird boosted their target price on shares of Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Stifel Nicolaus raised their price target on shares of Badger Meter from $189.00 to $203.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. StockNews.com cut shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Argus raised their target price on Badger Meter from $204.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $214.75.

Insiders Place Their Bets

In other news, VP Kimberly K. Stoll sold 1,097 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $205.00, for a total transaction of $224,885.00. Following the completion of the transaction, the vice president now owns 3,861 shares of the company’s stock, valued at approximately $791,505. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

Badger Meter Company Profile

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.