Cardinal Capital Management increased its holdings in Balchem Co. (NASDAQ:BCPC – Free Report) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,140 shares of the basic materials company’s stock after purchasing an additional 127 shares during the quarter. Cardinal Capital Management owned 0.06% of Balchem worth $2,580,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in shares of Balchem by 7.8% during the first quarter. ProShare Advisors LLC now owns 75,037 shares of the basic materials company’s stock valued at $9,491,000 after purchasing an additional 5,401 shares during the last quarter. Trust Investment Advisors acquired a new position in shares of Balchem in the fourth quarter worth about $206,000. Sei Investments Co. increased its position in shares of Balchem by 0.3% in the fourth quarter. Sei Investments Co. now owns 80,496 shares of the basic materials company’s stock worth $9,829,000 after acquiring an additional 202 shares in the last quarter. HRT Financial LP acquired a new stake in shares of Balchem during the fourth quarter valued at approximately $1,554,000. Finally, Victory Capital Management Inc. boosted its stake in Balchem by 58.3% in the 1st quarter. Victory Capital Management Inc. now owns 39,295 shares of the basic materials company’s stock worth $4,970,000 after purchasing an additional 14,472 shares during the period. 87.91% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on BCPC. HC Wainwright lifted their price target on Balchem from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, July 31st. StockNews.com started coverage on shares of Balchem in a research report on Thursday, August 17th. They issued a “hold” rating for the company.
Balchem Stock Down 3.0 %
BCPC stock opened at $130.76 on Tuesday. Balchem Co. has a 52-week low of $116.68 and a 52-week high of $143.88. The company has a 50-day moving average of $134.42 and a two-hundred day moving average of $130.42. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.94 and a quick ratio of 1.85. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 42.59 and a beta of 0.69.
Balchem (NASDAQ:BCPC – Get Free Report) last announced its quarterly earnings results on Friday, July 28th. The basic materials company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The business had revenue of $231.25 million for the quarter, compared to the consensus estimate of $241.00 million. Balchem had a net margin of 10.58% and a return on equity of 10.43%. As a group, equities research analysts anticipate that Balchem Co. will post 3.5 EPS for the current year.
In other Balchem news, Director David B. Fischer sold 3,800 shares of Balchem stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $131.57, for a total transaction of $499,966.00. Following the transaction, the director now directly owns 13,469 shares in the company, valued at $1,772,116.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.77% of the stock is owned by company insiders.
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 in the United States and internationally. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.
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