Massar Capital Management LP Takes $918,000 Position in Badger Meter, Inc. (NYSE:BMI)

Massar Capital Management LP purchased a new position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,328 shares of the scientific and technical instruments company's stock, valued at approximately $918,000.

A number of other hedge funds have also bought and sold shares of BMI. Aster Capital Management DIFC Ltd purchased a new position in Badger Meter during the fourth quarter worth about $25,000. R Squared Ltd purchased a new position in shares of Badger Meter during the fourth quarter worth approximately $28,000. Bessemer Group Inc. raised its stake in shares of Badger Meter by 162.5% during the fourth quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock worth $31,000 after acquiring an additional 91 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of Badger Meter by 2,457.1% in the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock worth $38,000 after purchasing an additional 172 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of Badger Meter in the fourth quarter worth approximately $39,000. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Stock Performance

Shares of BMI traded down $1.13 during trading hours on Friday, hitting $216.35. The company had a trading volume of 152,757 shares, compared to its average volume of 203,333. The firm has a fifty day moving average price of $197.85 and a 200-day moving average price of $209.56. Badger Meter, Inc. has a 52-week low of $162.17 and a 52-week high of $239.11. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 51.15, a P/E/G ratio of 3.89 and a beta of 0.84.

Badger Meter (NYSE:BMI - Get Free Report) last issued its earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.22. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. The company had revenue of $222.21 million for the quarter, compared to analysts' expectations of $220.39 million. During the same quarter last year, the company posted $0.99 earnings per share. Research analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.63%. Badger Meter's payout ratio is 29.96%.

Insider Activity

In related news, CEO Kenneth Bockhorst sold 1,165 shares of Badger Meter stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $212.13, for a total transaction of $247,131.45. Following the transaction, the chief executive officer now owns 52,620 shares in the company, valued at approximately $11,162,280.60. The trade was a 2.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William R. A. Bergum sold 148 shares of Badger Meter stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $212.13, for a total transaction of $31,395.24. Following the transaction, the vice president now owns 14,051 shares in the company, valued at approximately $2,980,638.63. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,949 shares of company stock valued at $4,398,407 in the last 90 days. Company insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Badger Meter from $209.00 to $196.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Argus set a $240.00 target price on shares of Badger Meter in a report on Thursday. Maxim Group boosted their target price on shares of Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Robert W. Baird dropped their target price on shares of Badger Meter from $218.00 to $216.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Royal Bank of Canada boosted their target price on shares of Badger Meter from $238.00 to $252.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $229.80.

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.