Capstone Asset Management Co. Has $216,000 Position in Badger Meter, Inc. (BMI)

Capstone Asset Management Co. decreased its position in shares of Badger Meter, Inc. (NYSE:BMI) by 11.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,426 shares of the scientific and technical instruments company’s stock after selling 680 shares during the period. Capstone Asset Management Co.’s holdings in Badger Meter were worth $216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in Badger Meter by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,210 shares of the scientific and technical instruments company’s stock worth $117,000 after buying an additional 60 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Badger Meter during the first quarter worth about $135,000. Clean Yield Group bought a new position in Badger Meter during the first quarter worth about $153,000. Victory Capital Management Inc. raised its position in Badger Meter by 33.2% in the first quarter. Victory Capital Management Inc. now owns 4,475 shares of the scientific and technical instruments company’s stock worth $164,000 after buying an additional 1,116 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Badger Meter during the first quarter worth about $213,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

Shares of Badger Meter, Inc. (NYSE BMI) traded up 0.34% during mid-day trading on Monday, reaching $44.35. The company’s stock had a trading volume of 14,773 shares. Badger Meter, Inc. has a 12 month low of $29.30 and a 12 month high of $46.85. The company has a 50 day moving average of $42.99 and a 200-day moving average of $39.05. The firm has a market capitalization of $1.29 billion, a P/E ratio of 37.58 and a beta of 0.56.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $104.17 million for the quarter, compared to analyst estimates of $108.02 million. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. Badger Meter’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. Equities research analysts forecast that Badger Meter, Inc. will post $1.29 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, August 29th. This is a positive change from Badger Meter’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.18%. Badger Meter’s dividend payout ratio is 39.32%.

A number of research analysts recently issued reports on the company. BidaskClub lowered Badger Meter from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Boenning Scattergood restated a “hold” rating on shares of Badger Meter in a research report on Friday, July 21st. Sidoti restated a “buy” rating and set a $52.00 price objective (up previously from $50.00) on shares of Badger Meter in a research report on Monday, June 19th. Zacks Investment Research upgraded Badger Meter from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $37.00 target price on shares of Badger Meter in a research note on Wednesday, May 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Badger Meter presently has a consensus rating of “Hold” and a consensus price target of $42.00.

In related news, insider Ronald H. Dix sold 2,000 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $41.07, for a total transaction of $82,140.00. Following the sale, the insider now directly owns 43,000 shares in the company, valued at approximately $1,766,010. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Beverly L. P. Smiley sold 19,610 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $45.14, for a total value of $885,195.40. Following the sale, the vice president now owns 68,926 shares in the company, valued at $3,111,319.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,776 shares of company stock worth $3,858,414. 4.50% of the stock is owned by corporate insiders.

About Badger Meter

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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).