Badger Meter, Inc. (NYSE:BMI) Shares Purchased by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL increased its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 29.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,943 shares of the scientific and technical instruments company’s stock after purchasing an additional 661 shares during the period. Chesapeake Capital Corp IL’s holdings in Badger Meter were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BMI. Marshall Wace LLP acquired a new position in shares of Badger Meter during the 2nd quarter worth about $10,622,000. Driehaus Capital Management LLC raised its holdings in Badger Meter by 66.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company’s stock valued at $23,974,000 after acquiring an additional 51,318 shares during the last quarter. Millennium Management LLC raised its holdings in Badger Meter by 86.2% in the 2nd quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company’s stock valued at $18,782,000 after acquiring an additional 46,650 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Badger Meter by 47.1% in the 2nd quarter. Renaissance Technologies LLC now owns 126,100 shares of the scientific and technical instruments company’s stock valued at $23,499,000 after acquiring an additional 40,400 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Badger Meter by 80.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 78,914 shares of the scientific and technical instruments company’s stock valued at $14,706,000 after acquiring an additional 35,150 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Price Performance

Badger Meter stock opened at $215.32 on Friday. The firm has a 50 day simple moving average of $213.72 and a 200-day simple moving average of $201.09. Badger Meter, Inc. has a 1-year low of $139.50 and a 1-year high of $230.76. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 53.43, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). The firm had revenue of $208.44 million during 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 business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Equities analysts expect that Badger Meter, Inc. will post 4.19 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, VP Kimberly K. Stoll sold 1,097 shares of the stock in a transaction that occurred on 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 trade represents a 22.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Badger Meter 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.