Oppenheimer Asset Management Inc. grew its position in shares of Balchem Co. (NASDAQ:BCPC) by 9.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,572 shares of the basic materials company’s stock after acquiring an additional 589 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Balchem were worth $646,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of BCPC. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Balchem by 57.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,829 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 665 shares during the period. Zeke Capital Advisors LLC purchased a new position in shares of Balchem during the 2nd quarter worth approximately $203,000. Eagle Boston Investment Management Inc. purchased a new position in shares of Balchem during the 1st quarter worth approximately $211,000. SG Americas Securities LLC purchased a new position in shares of Balchem during the 1st quarter worth approximately $213,000. Finally, Sigma Planning Corp purchased a new position in shares of Balchem during the 2nd quarter worth approximately $229,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.
BCPC stock opened at $111.40 on Friday. The company has a current ratio of 3.98, a quick ratio of 2.82 and a debt-to-equity ratio of 0.33. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 40.96 and a beta of 0.85. Balchem Co. has a fifty-two week low of $70.23 and a fifty-two week high of $111.96.
Balchem (NASDAQ:BCPC) last posted its quarterly earnings results on Friday, August 3rd. The basic materials company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. The company had revenue of $163.70 million for the quarter, compared to the consensus estimate of $163.20 million. Balchem had a return on equity of 13.78% and a net margin of 15.28%. The business’s revenue was up 11.3% compared to the same quarter last year.
A number of research analysts have weighed in on the company. BidaskClub downgraded Balchem from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. ValuEngine upgraded Balchem from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Finally, Pivotal Research upped their target price on Balchem from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, August 3rd.
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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