Rhumbline Advisers cut its holdings in Balchem Co. (NASDAQ:BCPC) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 107,239 shares of the basic materials company’s stock after selling 1,227 shares during the period. Rhumbline Advisers’ holdings in Balchem were worth $9,952,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of Balchem by 1.1% during the fourth quarter. BlackRock Inc. now owns 4,697,980 shares of the basic materials company’s stock valued at $368,087,000 after buying an additional 50,467 shares during the last quarter. Vanguard Group Inc raised its position in Balchem by 2.6% in the third quarter. Vanguard Group Inc now owns 3,252,944 shares of the basic materials company’s stock worth $364,622,000 after purchasing an additional 81,119 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Balchem by 0.8% in the first quarter. Conestoga Capital Advisors LLC now owns 801,988 shares of the basic materials company’s stock worth $74,425,000 after purchasing an additional 6,104 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Balchem by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 746,533 shares of the basic materials company’s stock worth $58,492,000 after purchasing an additional 10,660 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Balchem by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 432,497 shares of the basic materials company’s stock worth $33,887,000 after purchasing an additional 15,559 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.
Shares of Balchem stock opened at $94.83 on Monday. The company has a current ratio of 3.47, a quick ratio of 2.43 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 31.50 and a beta of 1.03. Balchem Co. has a 1-year low of $73.16 and a 1-year high of $117.79.
Balchem (NASDAQ:BCPC) last issued its quarterly earnings data on Friday, May 3rd. The basic materials company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.04. The firm had revenue of $157.00 million for the quarter, compared to analysts’ expectations of $165.57 million. Balchem had a net margin of 12.20% and a return on equity of 14.11%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. As a group, equities analysts anticipate that Balchem Co. will post 3.09 EPS for the current year.
Several research firms recently issued reports on BCPC. Pivotal Research lowered shares of Balchem from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Monday, May 6th. HC Wainwright reissued a “buy” rating and issued a $110.00 price target on shares of Balchem in a research report on Monday, May 6th. BidaskClub raised shares of Balchem from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Zacks Investment Research lowered shares of Balchem from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, Seaport Global Securities began coverage on shares of Balchem in a research report on Thursday, February 21st. They issued a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $112.50.
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Balchem Company Profile
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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