Balchem (NASDAQ:BCPC) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Balchem (NASDAQ:BCPC) from a buy rating to a hold rating in a report issued on Thursday morning.

Balchem Stock Performance

Shares of NASDAQ BCPC opened at $138.50 on Thursday. The stock has a 50 day moving average price of $152.40 and a 200 day moving average price of $139.85. Balchem has a 52 week low of $110.74 and a 52 week high of $159.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.38 and a current ratio of 2.12. The stock has a market capitalization of $4.47 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 4.25 and a beta of 0.71.

Balchem (NASDAQ:BCPC) last posted its quarterly earnings data on Friday, February 16th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Balchem had a return on equity of 10.69% and a net margin of 11.77%. The firm had revenue of $228.70 million for the quarter, compared to analyst estimates of $234.66 million. During the same quarter last year, the company earned $0.66 EPS. The company’s revenue was down 1.6% on a year-over-year basis. Analysts predict that Balchem will post 4.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Balchem

In other Balchem news, CAO William A. Backus sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $154.73, for a total value of $2,320,950.00. Following the sale, the chief accounting officer now owns 12,914 shares of the company’s stock, valued at approximately $1,998,183.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Balchem news, CEO Theodore L. Harris sold 34,350 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $154.29, for a total value of $5,299,861.50. Following the sale, the chief executive officer now owns 66,412 shares of the company’s stock, valued at approximately $10,246,707.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO William A. Backus sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $154.73, for a total value of $2,320,950.00. Following the completion of the sale, the chief accounting officer now directly owns 12,914 shares in the company, valued at approximately $1,998,183.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,630 shares of company stock valued at $11,843,249. 1.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Balchem

Several hedge funds have recently modified their holdings of BCPC. Wendell David Associates Inc. boosted its holdings in shares of Balchem by 0.7% during the 3rd quarter. Wendell David Associates Inc. now owns 21,977 shares of the basic materials company’s stock valued at $2,726,000 after acquiring an additional 150 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Balchem by 0.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 14,532 shares of the basic materials company’s stock valued at $1,803,000 after acquiring an additional 104 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Balchem by 5.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,935 shares of the basic materials company’s stock valued at $984,000 after acquiring an additional 386 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Balchem by 6.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,684 shares of the basic materials company’s stock worth $3,186,000 after purchasing an additional 1,515 shares during the last quarter. Finally, Argent Capital Management LLC bought a new position in Balchem during the 3rd quarter worth $227,000. Institutional investors and hedge funds own 87.91% of the company’s stock.

About Balchem

Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets worldwide. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.