Truist Financial Corp bought a new position in Balchem Co. (NASDAQ:BCPC – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,591 shares of the basic materials company’s stock, valued at approximately $201,000.
A number of other institutional investors have also recently added to or reduced their stakes in BCPC. Quantbot Technologies LP acquired a new stake in Balchem in the first quarter worth approximately $34,000. Benjamin Edwards Inc. boosted its stake in shares of Balchem by 158.3% during the 1st quarter. Benjamin Edwards Inc. now owns 421 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 258 shares in the last quarter. Gyon Technologies Capital Management LP bought a new stake in shares of Balchem during the 4th quarter worth $56,000. Belpointe Asset Management LLC bought a new stake in shares of Balchem during the 4th quarter worth $66,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Balchem during the 1st quarter worth $67,000. 87.91% of the stock is currently owned by institutional investors and hedge funds.
Balchem Stock Performance
Shares of Balchem stock opened at $137.79 on Tuesday. The stock has a market cap of $4.44 billion, a PE ratio of 44.84 and a beta of 0.71. The business has a fifty day simple moving average of $133.42 and a 200-day simple moving average of $130.25. The company has a quick ratio of 1.85, a current ratio of 2.94 and a debt-to-equity ratio of 0.42. Balchem Co. has a 12 month low of $116.68 and a 12 month high of $143.88.
Balchem (NASDAQ:BCPC – Get Free Report) last issued its earnings results on Friday, July 28th. The basic materials company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. The business had revenue of $231.25 million during the quarter, compared to analysts’ expectations of $241.00 million. Balchem had a return on equity of 10.43% and a net margin of 10.58%. On average, sell-side analysts anticipate that Balchem Co. will post 3.5 EPS for the current fiscal year.
Analysts Set New Price Targets
BCPC has been the subject of several research reports. StockNews.com initiated coverage on Balchem in a research note on Thursday, August 17th. They set a “hold” rating for the company. HC Wainwright raised their price objective on Balchem from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, July 31st.
Read Our Latest Research Report on BCPC
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 in the United States and internationally. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.
Further Reading
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