PNC Financial Services Group Inc. lessened its holdings in shares of Balchem Co. (NASDAQ:BCPC – Get Rating) by 8.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,401 shares of the basic materials company’s stock after selling 852 shares during the period. PNC Financial Services Group Inc.’s holdings in Balchem were worth $1,148,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lord Abbett & CO. LLC grew its stake in Balchem by 2.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 328,503 shares of the basic materials company’s stock worth $40,113,000 after buying an additional 9,380 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Balchem by 1.1% in the 4th quarter. Victory Capital Management Inc. now owns 24,561 shares of the basic materials company’s stock valued at $3,057,000 after purchasing an additional 266 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Balchem by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 655,317 shares of the basic materials company’s stock valued at $80,022,000 after purchasing an additional 11,310 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Balchem by 35.1% in the 4th quarter. Citigroup Inc. now owns 20,899 shares of the basic materials company’s stock valued at $2,552,000 after buying an additional 5,425 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Balchem by 73.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,723 shares of the basic materials company’s stock valued at $2,775,000 after buying an additional 9,601 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.
Balchem Price Performance
Shares of NASDAQ:BCPC opened at $124.51 on Wednesday. The company has a market cap of $4.01 billion, a P/E ratio of 40.69 and a beta of 0.70. The company has a quick ratio of 1.81, a current ratio of 2.88 and a debt-to-equity ratio of 0.48. Balchem Co. has a 52 week low of $110.15 and a 52 week high of $143.88. The business has a fifty day simple moving average of $125.96 and a 200-day simple moving average of $129.20.
Balchem (NASDAQ:BCPC – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Balchem had a net margin of 10.48% and a return on equity of 10.69%. The firm had revenue of $232.54 million for the quarter, compared to analysts’ expectations of $232.00 million. During the same period last year, the firm posted $0.89 EPS. Equities research analysts forecast that Balchem Co. will post 3.6 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have recently commented on BCPC shares. StockNews.com started coverage on Balchem in a report on Thursday, May 18th. They issued a “hold” rating for the company. HC Wainwright reduced their price target on Balchem from $152.00 to $140.00 in a report on Monday, February 27th.
Insider Buying and Selling at Balchem
In other Balchem news, SVP Michael Robert Sestrick sold 2,300 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $130.36, for a total transaction of $299,828.00. Following the completion of the sale, the senior vice president now owns 5,424 shares of the company’s stock, valued at $707,072.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Michael Robert Sestrick sold 2,300 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $130.36, for a total value of $299,828.00. Following the transaction, the senior vice president now owns 5,424 shares in the company, valued at $707,072.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David B. Fischer sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $127.01, for a total value of $381,030.00. Following the sale, the director now owns 17,269 shares in the company, valued at approximately $2,193,335.69. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
About Balchem
Balchem Corp. provides marketing of specialty performance ingredients and products. It operates through the following segments: Human Nutrition and Health, Animal Nutrition and Health, Specialty Products and Industrial Products. The Human Nutrition and Health segment supplies ingredients in the food and beverage industry, providing customized solutions in powder, solid and liquid flavor delivery systems, spray dried emulsified powder systems, and cereal systems.
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