Bessemer Group Inc. Grows Position in Badger Meter, Inc. $BMI

Key Points

• Bessemer Group Inc. increased its stake in Badger Meter by 14.1% in the fourth quarter, adding 20,624 shares to bring its total holdings to 166,407 shares worth about $29.0 million.
• Badger Meter’s stock has fallen sharply, opening at $114.19 and sitting near its 52-week low of $112.09, well below its 52-week high of $256.08.
• The company reported solid recent fundamentals and continued shareholder returns, with quarterly EPS of $1.14, revenue of $220.71 million, and a new quarterly dividend of $0.40 per share payable on June 5.

Bessemer Group Inc. raised its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 14.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,407 shares of the scientific and technical instruments company's stock after buying an additional 20,624 shares during the quarter. Bessemer Group Inc. owned about 0.56% of Badger Meter worth $29,023,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Badger Meter by 154.7% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,922 shares of the scientific and technical instruments company's stock worth $3,022,000 after purchasing an additional 10,277 shares during the period. Tudor Investment Corp ET AL boosted its holdings in shares of Badger Meter by 67.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 106,927 shares of the scientific and technical instruments company's stock worth $19,095,000 after purchasing an additional 42,891 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Badger Meter by 85.9% in the 3rd quarter. Alps Advisors Inc. now owns 82,568 shares of the scientific and technical instruments company's stock worth $14,745,000 after purchasing an additional 38,160 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Badger Meter by 43.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 503,171 shares of the scientific and technical instruments company's stock worth $89,856,000 after purchasing an additional 153,213 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of Badger Meter by 3,088.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,901 shares of the scientific and technical instruments company's stock worth $4,983,000 after purchasing an additional 27,026 shares during the period. Hedge funds and other institutional investors own 89.01% of the company's stock.

Badger Meter Stock Down 2.8%

BMI opened at $114.19 on Friday. The business has a fifty day moving average of $139.40 and a 200 day moving average of $159.86. Badger Meter, Inc. has a 52-week low of $112.09 and a 52-week high of $256.08. The stock has a market cap of $3.33 billion, a P/E ratio of 25.78, a PEG ratio of 2.05 and a beta of 0.68.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%.The company had revenue of $220.71 million during the quarter. Equities analysts anticipate that Badger Meter, Inc. will post 4.5 EPS for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Badger Meter's payout ratio is presently 36.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BMI shares. Stifel Nicolaus dropped their target price on Badger Meter from $174.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 20th. Maxim Group cut Badger Meter from a "buy" rating to a "hold" rating in a report on Thursday, April 23rd. Wall Street Zen upgraded Badger Meter from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. Weiss Ratings cut Badger Meter from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $167.00 target price on shares of Badger Meter in a report on Thursday, January 29th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $155.86.

Insider Activity at Badger Meter

In other Badger Meter news, VP Richard Htwe acquired 1,700 shares of the company's stock in a transaction that occurred on Tuesday, April 21st. The stock was bought at an average price of $116.13 per share, for a total transaction of $197,421.00. Following the acquisition, the vice president directly owned 7,603 shares in the company, valued at $882,936.39. The trade was a 28.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kenneth Bockhorst acquired 2,200 shares of the company's stock in a transaction that occurred on Tuesday, April 21st. The shares were acquired at an average price of $117.53 per share, with a total value of $258,566.00. Following the acquisition, the chief executive officer owned 51,676 shares in the company, valued at $6,073,480.28. This trade represents a 4.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 6,628 shares of company stock worth $777,128 and have sold 3,989 shares worth $596,002. 1.00% of the stock is owned by insiders.

Badger Meter Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company's core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company's product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.

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