Norway Savings Bank bought a new stake in Balchem Co. (NASDAQ:BCPC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 275 shares of the basic materials company’s stock, valued at approximately $27,000.
A number of other hedge funds also recently bought and sold shares of BCPC. Nuveen Asset Management LLC lifted its stake in Balchem by 16.7% in the 1st quarter. Nuveen Asset Management LLC now owns 151,814 shares of the basic materials company’s stock valued at $14,987,000 after buying an additional 21,689 shares in the last quarter. Deutsche Bank AG raised its holdings in Balchem by 16.8% in the 1st quarter. Deutsche Bank AG now owns 14,770 shares of the basic materials company’s stock valued at $1,457,000 after acquiring an additional 2,128 shares during the last quarter. Legal & General Group Plc raised its holdings in Balchem by 0.8% in the 1st quarter. Legal & General Group Plc now owns 95,016 shares of the basic materials company’s stock valued at $9,380,000 after acquiring an additional 788 shares during the last quarter. Geode Capital Management LLC raised its holdings in Balchem by 7.5% in the 1st quarter. Geode Capital Management LLC now owns 471,526 shares of the basic materials company’s stock valued at $46,548,000 after acquiring an additional 32,909 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Balchem by 48.0% in the 1st quarter. Wells Fargo & Company MN now owns 146,761 shares of the basic materials company’s stock valued at $14,488,000 after acquiring an additional 47,598 shares during the last quarter. 85.70% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on BCPC. Stephens began coverage on Balchem in a report on Thursday, July 9th. They issued an “equal weight” rating and a $100.00 price target for the company. HC Wainwright boosted their price target on Balchem from $104.00 to $126.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. BidaskClub downgraded Balchem from a “sell” rating to a “strong sell” rating in a report on Thursday, September 17th. Finally, Zacks Investment Research upgraded Balchem from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a report on Friday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Balchem has an average rating of “Hold” and an average target price of $113.33.
BCPC stock opened at $105.32 on Friday. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 41.63 and a beta of 0.63. The company has a quick ratio of 2.68, a current ratio of 3.88 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $98.43 and a 200-day simple moving average of $96.20. Balchem Co. has a 52 week low of $78.30 and a 52 week high of $113.93.
Balchem (NASDAQ:BCPC) last released its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.30. The business had revenue of $173.36 million during the quarter, compared to the consensus estimate of $161.35 million. Balchem had a return on equity of 14.32% and a net margin of 12.18%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. As a group, analysts expect that Balchem Co. will post 3.14 earnings per share for the current fiscal year.
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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