Badger Meter, Inc. (NYSE:BMI) Short Interest Up 22.8% in December

Badger Meter, Inc. (NYSE:BMI) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,160,000 shares, an increase of 22.8% from the November 30th total of 944,500 shares. Based on an average daily trading volume, of 198,400 shares, the days-to-cover ratio is currently 5.8 days.

Badger Meter Stock Down 1.0 %

Shares of BMI stock traded down $2.13 on Tuesday, reaching $212.12. The company’s stock had a trading volume of 117,813 shares, compared to its average volume of 181,795. Badger Meter has a 12-month low of $139.50 and a 12-month high of $239.11. The stock’s 50 day simple moving average is $217.24 and its 200-day simple moving average is $207.35. The company has a market capitalization of $6.24 billion, a P/E ratio of 52.64, a PEG ratio of 2.98 and a beta of 0.79.

Badger Meter (NYSE:BMI) last issued 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 the consensus estimate of $212.08 million. Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. Research analysts expect that Badger Meter will post 4.19 EPS for the current year.

Badger Meter Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Friday, November 22nd. Badger Meter’s payout ratio is 33.75%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Badger Meter from $203.00 to $208.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Robert W. Baird lifted their price target on Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Maxim Group increased their price objective on Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Badger Meter currently has an average rating of “Hold” and a consensus price target of $216.00.

Institutional Trading of Badger Meter

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in 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 worth $44,000 after buying an additional 183 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Badger Meter by 61.3% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the scientific and technical instruments company’s stock valued at $176,000 after purchasing an additional 306 shares during the last quarter. Annex Advisory Services LLC purchased a new position in Badger Meter in the 3rd quarter worth $204,000. ORBA Wealth Advisors L.L.C. bought a new stake in Badger Meter in the third quarter worth $207,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Badger Meter by 636.4% in the third quarter. Public Employees Retirement System of Ohio now owns 950 shares of the scientific and technical instruments company’s stock worth $207,000 after purchasing an additional 821 shares during the last quarter. 89.01% of the stock is owned by institutional investors.

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.