Badger Meter, Inc. (NYSE:BMI) Short Interest Update

Badger Meter, Inc. (NYSE:BMI) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,470,000 shares, an increase of 26.7% from the December 15th total of 1,160,000 shares. Based on an average daily volume of 204,500 shares, the days-to-cover ratio is currently 7.2 days.

Badger Meter Price Performance

Shares of BMI stock traded up $1.10 during mid-day trading on Friday, hitting $215.06. The company had a trading volume of 132,073 shares, compared to its average volume of 158,110. Badger Meter has a 52-week low of $139.50 and a 52-week high of $239.11. The stock’s 50 day moving average price is $218.65 and its 200-day moving average price is $209.50. The company has a market capitalization of $6.33 billion, a P/E ratio of 53.37, a P/E/G ratio of 2.30 and a beta of 0.79.

Badger Meter (NYSE:BMI) last released its quarterly 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%. Badger Meter’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 EPS. On average, equities research analysts expect that Badger Meter will post 4.19 earnings per share for the current year.

Badger Meter Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Friday, November 22nd. Badger Meter’s payout ratio is 33.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BMI shares. Robert W. Baird upped their price target 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 upped their price target on shares of Badger Meter from $203.00 to $208.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Maxim Group upped their price target on shares of Badger Meter from $216.00 to $235.00 and gave the stock 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $216.00.

Institutional Investors Weigh In On Badger Meter

Hedge funds have recently bought and sold shares of the business. ORG Partners LLC purchased a new stake in Badger Meter during the fourth quarter valued at $42,000. Blue Trust Inc. raised its stake in shares of Badger Meter by 1,016.7% in the third quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company’s stock valued at $44,000 after acquiring an additional 183 shares during the period. GAMMA Investing LLC raised its stake in shares of Badger Meter by 61.3% in the third quarter. GAMMA Investing LLC now owns 805 shares of the scientific and technical instruments company’s stock valued at $176,000 after acquiring an additional 306 shares during the period. Annex Advisory Services LLC purchased a new position in shares of Badger Meter during the 3rd quarter worth about $204,000. Finally, ORBA Wealth Advisors L.L.C. bought a new position in Badger Meter during the 3rd quarter valued at about $207,000. Hedge funds and other institutional investors 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.