Cubist Systematic Strategies LLC Makes New $5.14 Million Investment in Badger Meter, Inc. $BMI

Key Points

• Cubist Systematic Strategies LLC acquired 26,998 shares of Badger Meter, Inc., valued at approximately $5,136,000, increasing its stake to 0.09% at the end of the reporting period.
• Badger Meter's stock recently reported a quarterly earnings per share (EPS) of $1.17, missing the consensus estimate, while the company announced an increase in its dividend to $0.40 per share.
• 89.01% of Badger Meter's stock is currently owned by hedge funds and institutional investors, indicating strong institutional interest in the company.

Cubist Systematic Strategies LLC purchased a new stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,998 shares of the scientific and technical instruments company's stock, valued at approximately $5,136,000. Cubist Systematic Strategies LLC owned about 0.09% of Badger Meter at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMI. Graham Capital Management L.P. raised its stake in shares of Badger Meter by 134.8% during the first quarter. Graham Capital Management L.P. now owns 3,736 shares of the scientific and technical instruments company's stock valued at $711,000 after acquiring an additional 2,145 shares during the last quarter. Alamea Verwaltungs GmbH bought a new stake in shares of Badger Meter in the first quarter worth approximately $440,000. Vident Advisory LLC lifted its holdings in shares of Badger Meter by 207.1% in the first quarter. Vident Advisory LLC now owns 25,245 shares of the scientific and technical instruments company's stock worth $4,803,000 after buying an additional 17,025 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Badger Meter by 2.8% during the first quarter. Evergreen Capital Management LLC now owns 2,857 shares of the scientific and technical instruments company's stock valued at $544,000 after purchasing an additional 77 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in shares of Badger Meter during the first quarter valued at about $614,000. 89.01% of the stock is owned by institutional investors.

Badger Meter Stock Performance

Shares of NYSE:BMI traded down $0.73 during trading on Monday, hitting $182.11. 143,932 shares of the stock were exchanged, compared to its average volume of 278,790. The company's fifty day simple moving average is $204.92 and its 200-day simple moving average is $213.57. Badger Meter, Inc. has a 1-year low of $162.17 and a 1-year high of $256.08. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 39.67, a price-to-earnings-growth ratio of 3.22 and a beta of 0.88.

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 the consensus estimate of $1.19 by ($0.02). The firm had revenue of $238.10 million for the quarter, compared to analyst estimates of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The firm's quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.12 earnings per share. On average, research analysts forecast 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. Investors of record on Friday, August 22nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. This is an increase from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, August 22nd. Badger Meter's payout ratio is 34.86%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stifel Nicolaus set a $224.00 price objective on shares of Badger Meter in a report on Wednesday, July 23rd. Raymond James Financial began coverage on Badger Meter in a research note on Tuesday, June 3rd. They set a "market perform" rating on the stock. Robert W. Baird upped their price target on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada decreased their price objective on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $238.40.

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.