Prudential Financial Inc. lessened its stake in shares of Balchem Co. (NASDAQ:BCPC) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,418 shares of the basic materials company’s stock after selling 220 shares during the period. Prudential Financial Inc. owned about 0.17% of Balchem worth $5,340,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wasatch Advisors Inc. increased its holdings in shares of Balchem by 6.0% in 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 purchasing an additional 74,061 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of 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 during the period. Clearbridge Investments LLC increased its holdings in shares of 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 during the period. Stephens Investment Management Group LLC increased its holdings in shares of Balchem by 0.8% in the 2nd quarter. Stephens Investment Management Group LLC now owns 381,875 shares of the basic materials company’s stock valued at $38,176,000 after purchasing an additional 3,002 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Balchem by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 359,495 shares of the basic materials company’s stock valued at $28,166,000 after purchasing an additional 23,276 shares during the period. Hedge funds and other institutional investors own 86.43% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Balchem from a “hold” rating to a “sell” rating in a report on Monday, August 5th. HC Wainwright reissued a “buy” rating and issued a $95.00 price target (down previously from $110.00) on shares of Balchem in a research note on Monday, August 5th. Finally, BidaskClub raised Balchem from a “hold” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $108.75.
Shares of NASDAQ BCPC traded up $0.81 during trading hours on Friday, hitting $105.30. The stock had a trading volume of 2,861 shares, compared to its average volume of 108,581. The company has a market capitalization of $3.38 billion, a P/E ratio of 35.15 and a beta of 1.17. The firm’s 50-day moving average price is $91.67 and its two-hundred day moving average price is $94.91. Balchem Co. has a 52 week low of $73.16 and a 52 week high of $117.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.63 and a current ratio of 3.73.
Balchem (NASDAQ:BCPC) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.08. The business had revenue of $161.60 million during the quarter, compared to analysts’ expectations of $163.14 million. Balchem had a return on equity of 13.87% and a net margin of 12.27%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. As a group, analysts expect that Balchem Co. will post 2.96 EPS for the current fiscal year.
In related news, VP Scott C. Mason bought 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $84.74 per share, with a total value of $254,220.00. Following the completion of the transaction, the vice president now directly owns 12,524 shares of the company’s stock, valued at $1,061,283.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP David F. Ludwig sold 12,750 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,893,420. The disclosure for this sale can be found here. 1.28% of the stock is owned by corporate insiders.
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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