Comerica Bank Purchases 9,306 Shares of Badger Meter, Inc. $BMI

Key Points

• Comerica Bank nearly doubled its holding in Badger Meter in Q4, buying 9,306 shares to bring its position to 18,750 shares worth about $3.27 million (roughly 0.06% of the company).
• Company insiders increased purchases recently — VPs Christina Tarantino and Edward Callahan bought 870 and 858 shares respectively — and insiders net bought 11,578 shares while selling 3,989 last quarter, now owning about 1.0% of the stock.
• Dividend and analyst view: Badger Meter declared a $0.40 quarterly dividend ($1.60 annual, 1.3% yield) with record/ex-dividend on May 22, while the stock trades in a 1-year range of $112.09–$256.08 and carries an average analyst rating of "Hold" (target ~$155.86).

Comerica Bank increased its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 98.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,750 shares of the scientific and technical instruments company's stock after acquiring an additional 9,306 shares during the period. Comerica Bank owned about 0.06% of Badger Meter worth $3,270,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. N.E.W. Advisory Services LLC purchased a new position in Badger Meter in the fourth quarter worth about $25,000. Caitlin John LLC purchased a new stake in shares of Badger Meter during the 3rd quarter valued at about $31,000. Brown Brothers Harriman & Co. lifted its stake in shares of Badger Meter by 62.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 71 shares during the period. Salomon & Ludwin LLC bought a new position in shares of Badger Meter in the 3rd quarter worth approximately $38,000. Finally, Strategic Advocates LLC purchased a new position in shares of Badger Meter in the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Badger Meter Price Performance

Shares of NYSE:BMI opened at $121.92 on Monday. Badger Meter, Inc. has a 1-year low of $112.09 and a 1-year high of $256.08. The company has a market capitalization of $3.56 billion, a P/E ratio of 27.52, a P/E/G ratio of 2.19 and a beta of 0.68. The firm's 50 day simple moving average is $145.86 and its two-hundred day simple moving average is $163.76.

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

Badger Meter Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, May 22nd. Badger Meter's dividend payout ratio is presently 36.12%.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, VP Christina M. Tarantino acquired 870 shares of the stock in a transaction dated Tuesday, April 21st. The shares were acquired at an average cost of $113.80 per share, for a total transaction of $99,006.00. Following the completion of the transaction, the vice president directly owned 1,801 shares of the company's stock, valued at approximately $204,953.80. The trade was a 93.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Edward F. Callahan acquired 858 shares of the company's stock in a transaction dated Tuesday, April 21st. The stock was acquired at an average cost of $116.30 per share, with a total value of $99,785.40. Following the purchase, the vice president owned 1,186 shares of the company's stock, valued at approximately $137,931.80. This trade represents a 261.59% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 11,578 shares of company stock valued at $1,531,492 and sold 3,989 shares valued at $596,002. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BMI shares. Zacks Research raised shares of Badger Meter from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Barclays set a $110.00 price target on shares of Badger Meter and gave the stock an "underweight" rating in a research note on Monday, April 20th. Weiss Ratings restated a "hold (c+)" rating on shares of Badger Meter in a research note on Wednesday, January 21st. Maxim Group cut Badger Meter from a "buy" rating to a "hold" rating in a report on Thursday, April 23rd. Finally, Robert W. Baird lowered their target price on Badger Meter from $173.00 to $145.00 and set an "outperform" rating on the stock in a research report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $155.86.

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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