Axiom Investors LLC DE Sells 31,250 Shares of Badger Meter, Inc. $BMI

Key Points

• Axiom Investors LLC DE reduced its stake in Badger Meter, Inc. by 42.2%, selling 31,250 shares and holding a total of 42,743 shares worth approximately $8.13 million as of their latest SEC filing.
• Badger Meter recently declared a quarterly dividend of $0.40 per share, an increase from the previous $0.34, with a current annualized yield of 0.9%.
• The company's latest earnings report showed an EPS of $1.17, falling short of analyst expectations, but revenue increased by 9.9% year-over-year, totaling $238.1 million.

Axiom Investors LLC DE cut its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 42.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,743 shares of the scientific and technical instruments company's stock after selling 31,250 shares during the period. Axiom Investors LLC DE owned approximately 0.15% of Badger Meter worth $8,132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMI. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Badger Meter by 22.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,731 shares of the scientific and technical instruments company's stock worth $519,000 after acquiring an additional 506 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Badger Meter during the 1st quarter worth approximately $369,000. GAMMA Investing LLC lifted its stake in shares of Badger Meter by 11.8% during the 1st quarter. GAMMA Investing LLC now owns 878 shares of the scientific and technical instruments company's stock worth $167,000 after acquiring an additional 93 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Badger Meter during the 1st quarter worth approximately $65,448,000. Finally, Golden State Wealth Management LLC increased its holdings in Badger Meter by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 92 shares during the period. 89.01% of the stock is owned by institutional investors.

Badger Meter Price Performance

Badger Meter stock opened at $182.39 on Monday. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 39.74, a PEG ratio of 3.22 and a beta of 0.88. Badger Meter, Inc. has a 1-year low of $162.17 and a 1-year high of $256.08. The business has a fifty day moving average price of $204.92 and a 200-day moving average price of $213.57.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The business had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. During the same period in the previous year, the business earned $1.12 EPS. The firm's revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. This is an increase from Badger Meter's previous quarterly dividend of $0.34. Badger Meter's payout ratio is presently 34.86%.

Wall Street Analysts Forecast Growth

BMI has been the topic of several research reports. Raymond James Financial initiated coverage on Badger Meter in a report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Stifel Nicolaus set a $224.00 price objective on Badger Meter in a report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price objective on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Finally, Robert W. Baird lifted their price target on Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Badger Meter has a consensus rating of "Hold" and an average price target of $238.40.

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.

Want to see what other hedge funds are holding BMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Badger Meter, Inc. (NYSE:BMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.