Badger Meter, Inc. (NYSE:BMI) announced a quarterly dividend on Friday, November 9th, RTT News reports. Stockholders of record on Friday, November 30th will be paid a dividend of 0.15 per share by the scientific and technical instruments company on Friday, December 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%.
Badger Meter has raised its dividend payment by an average of 9.8% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. Badger Meter has a payout ratio of 42.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Badger Meter to earn $1.72 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 34.9%.
Shares of NYSE:BMI traded down $0.82 during trading on Friday, reaching $51.75. 83,500 shares of the stock were exchanged, compared to its average volume of 128,915. Badger Meter has a 12 month low of $41.00 and a 12 month high of $56.40. The stock has a market cap of $1.52 billion, a PE ratio of 43.49, a P/E/G ratio of 3.85 and a beta of 0.70.
BMI has been the subject of a number of research analyst reports. Zacks Investment Research cut Badger Meter from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. Stifel Nicolaus boosted their price objective on Badger Meter from $41.00 to $49.00 and gave the stock a “hold” rating in a report on Friday, July 20th. Robert W. Baird restated a “hold” rating and set a $45.00 price objective on shares of Badger Meter in a report on Friday, July 20th. Berenberg Bank began coverage on Badger Meter in a report on Wednesday, October 3rd. They set a “sell” rating and a $43.00 price objective for the company. Finally, Maxim Group began coverage on shares of Badger Meter in a research report on Monday. They issued a “buy” rating and a $65.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $50.83.
In other news, Chairman Richard A. Meeusen sold 22,430 shares of Badger Meter stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $50.01, for a total value of $1,121,724.30. Following the completion of the sale, the chairman now directly owns 83,562 shares in the company, valued at $4,178,935.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Richard E. Johnson sold 19,000 shares of Badger Meter stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $50.43, for a total transaction of $958,170.00. Following the completion of the sale, the vice president now owns 56,982 shares of the company’s stock, valued at $2,873,602.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,792 shares of company stock valued at $2,538,748. 2.80% of the stock is owned by company insiders.
Badger Meter Company Profile
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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