Norway Savings Bank purchased a new stake in Balchem Co. (NASDAQ:BCPC) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 275 shares of the basic materials company’s stock, valued at approximately $27,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its holdings in Balchem by 11.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 1,561 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 159 shares in the last quarter. Paloma Partners Management Co purchased a new position in Balchem in the 1st quarter valued at about $208,000. Stephens Inc. AR boosted its position in Balchem by 175.4% in the 2nd quarter. Stephens Inc. AR now owns 2,264 shares of the basic materials company’s stock valued at $215,000 after buying an additional 1,442 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Balchem during the second quarter worth about $224,000. Finally, AQR Capital Management LLC lifted its holdings in Balchem by 8.9% in the first quarter. AQR Capital Management LLC now owns 2,365 shares of the basic materials company’s stock worth $233,000 after acquiring an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 85.70% of the company’s stock.
Shares of NASDAQ:BCPC opened at $105.32 on Friday. The firm’s 50 day moving average is $98.43 and its two-hundred day moving average is $96.20. Balchem Co. has a 52 week low of $78.30 and a 52 week high of $113.93. The firm has a market capitalization of $3.41 billion, a P/E ratio of 41.63 and a beta of 0.63. The company has a current ratio of 3.88, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29.
Balchem (NASDAQ:BCPC) last posted its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.30. Balchem had a net margin of 12.18% and a return on equity of 14.32%. The business had revenue of $173.36 million for the quarter, compared to analyst estimates of $161.35 million. During the same quarter last year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts predict that Balchem Co. will post 3.14 EPS for the current year.
A number of brokerages have issued reports on BCPC. Zacks Investment Research raised shares of Balchem from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a report on Friday, August 7th. HC Wainwright raised their price target on shares of Balchem from $104.00 to $126.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Stephens assumed coverage on shares of Balchem in a research note on Thursday, July 9th. They issued an “equal weight” rating and a $100.00 price target on the stock. Finally, BidaskClub lowered shares of Balchem from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Balchem has a consensus rating of “Hold” and a consensus price target of $113.33.
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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