Standard Life Aberdeen plc increased its position in Balchem Co. (NASDAQ:BCPC) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,279 shares of the basic materials company’s stock after buying an additional 28,038 shares during the period. Standard Life Aberdeen plc owned 0.69% of Balchem worth $24,795,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of BCPC. Cubist Systematic Strategies LLC acquired a new stake in shares of Balchem in the 2nd quarter valued at about $218,000. Granahan Investment Management Inc. MA acquired a new position in Balchem during the 2nd quarter valued at about $224,000. Bbva Compass Bancshares Inc. acquired a new position in Balchem during the 3rd quarter valued at about $226,000. Sigma Planning Corp acquired a new position in Balchem during the 2nd quarter valued at about $229,000. Finally, CIBC Asset Management Inc acquired a new position in Balchem during the 2nd quarter valued at about $240,000. Institutional investors own 88.17% of the company’s stock.
In other news, Director Daniel E. Knutson bought 650 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were purchased at an average price of $89.11 per share, with a total value of $57,921.50. Following the transaction, the director now directly owns 1,495 shares in the company, valued at $133,219.45. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.02% of the stock is owned by company insiders.
Balchem stock opened at $82.11 on Wednesday. Balchem Co. has a 52 week low of $70.23 and a 52 week high of $117.79. The company has a current ratio of 3.42, a quick ratio of 2.33 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 32.45 and a beta of 0.94.
Balchem (NASDAQ:BCPC) last posted its earnings results on Tuesday, November 6th. The basic materials company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.12. Balchem had a net margin of 15.67% and a return on equity of 14.51%. The firm had revenue of $155.04 million for the quarter, compared to analysts’ expectations of $163.66 million. During the same quarter last year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Balchem Co. will post 2.45 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on the company. HC Wainwright assumed coverage on Balchem in a research note on Tuesday, September 25th. They set a “buy” rating for the company. BidaskClub downgraded Balchem from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 29th. ValuEngine upgraded Balchem from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Sidoti upgraded Balchem from a “neutral” rating to a “buy” rating and set a $127.00 price target for the company in a research note on Tuesday, October 16th. Finally, Pivotal Research upgraded Balchem from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.00 to $100.00 in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $122.33.
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Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization, and industrial markets in the United States and internationally. The company's Human Nutrition & Health segment supplies ingredients in the food and beverage industry.
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