State of Alaska Department of Revenue lifted its holdings in shares of Balchem Co. (NASDAQ:BCPC) by 126.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,958 shares of the basic materials company’s stock after purchasing an additional 13,951 shares during the quarter. State of Alaska Department of Revenue owned about 0.08% of Balchem worth $2,475,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BCPC. BlackRock Inc. boosted its holdings in Balchem by 1.0% during the 2nd quarter. BlackRock Inc. now owns 4,712,524 shares of the basic materials company’s stock valued at $471,110,000 after acquiring an additional 47,908 shares during the period. Wasatch Advisors Inc. boosted its holdings in Balchem by 6.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,306,898 shares of the basic materials company’s stock valued at $130,651,000 after acquiring an additional 74,061 shares during the period. Conestoga Capital Advisors LLC raised its position in Balchem by 2.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 822,800 shares of the basic materials company’s stock valued at $82,255,000 after purchasing an additional 20,812 shares in the last quarter. Clearbridge Investments LLC raised its position in Balchem by 0.4% in the 1st quarter. Clearbridge Investments LLC now owns 560,657 shares of the basic materials company’s stock valued at $52,029,000 after purchasing an additional 2,147 shares in the last quarter. Finally, Northern Trust Corp raised its position in Balchem by 1.0% in the 2nd quarter. Northern Trust Corp now owns 478,505 shares of the basic materials company’s stock valued at $47,837,000 after purchasing an additional 4,940 shares in the last quarter. Institutional investors and hedge funds own 86.42% of the company’s stock.
BCPC stock traded up $0.50 during mid-day trading on Wednesday, reaching $96.84. The company had a trading volume of 916 shares, compared to its average volume of 115,518. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.63 and a current ratio of 3.73. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 32.17 and a beta of 1.22. The firm has a fifty day simple moving average of $95.41 and a 200 day simple moving average of $96.00. Balchem Co. has a fifty-two week low of $73.16 and a fifty-two week high of $105.99.
Balchem (NASDAQ:BCPC) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.08. Balchem had a return on equity of 13.87% and a net margin of 12.27%. The company had revenue of $161.60 million for the quarter, compared to analyst estimates of $163.14 million. During the same quarter last year, the company earned $0.76 EPS. Balchem’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, analysts predict that Balchem Co. will post 3.06 earnings per share for the current year.
In other Balchem news, VP Scott C. Mason bought 3,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $84.74 per share, with a total value of $254,220.00. Following the transaction, the vice president now owns 12,524 shares of the company’s stock, valued at $1,061,283.76. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP David F. Ludwig sold 12,750 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $90.00, for a total value of $1,147,500.00. Following the sale, the vice president now directly owns 21,038 shares in the company, valued at approximately $1,893,420. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by company insiders.
A number of research firms have issued reports on BCPC. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price target (down previously from $110.00) on shares of Balchem in a research report on Monday, August 5th. BidaskClub raised Balchem from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Finally, Zacks Investment Research raised Balchem from a “sell” rating to a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $108.75.
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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