Comerica Bank lifted its position in shares of Balchem Co. (NASDAQ:BCPC) by 22.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,585 shares of the basic materials company’s stock after purchasing an additional 11,095 shares during the period. Comerica Bank’s holdings in Balchem were worth $6,053,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BCPC. CWM LLC bought a new position in shares of Balchem during the second quarter worth approximately $31,000. Krane Funds Advisors LLC bought a new position in shares of Balchem during the second quarter worth approximately $60,000. Tower Research Capital LLC TRC bought a new position in shares of Balchem during the second quarter worth approximately $65,000. Clarus Wealth Advisors bought a new position in shares of Balchem during the second quarter worth approximately $104,000. Finally, HM Payson & Co. bought a new position in shares of Balchem during the second quarter worth approximately $147,000. Institutional investors own 86.33% of the company’s stock.
In other Balchem news, VP David F. Ludwig sold 12,750 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $90.00, for a total transaction of $1,147,500.00. Following the transaction, the vice president now owns 21,038 shares in the company, valued at approximately $1,893,420. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.28% of the stock is owned by company insiders.
Shares of NASDAQ BCPC opened at $105.25 on Thursday. The firm has a market cap of $3.31 billion, a P/E ratio of 34.08 and a beta of 1.20. The company has a current ratio of 3.73, a quick ratio of 2.63 and a debt-to-equity ratio of 0.33. Balchem Co. has a 1-year low of $73.16 and a 1-year high of $106.56. The business’s 50 day moving average is $99.79 and its 200-day moving average is $96.88.
Balchem (NASDAQ:BCPC) last announced its earnings results on Tuesday, November 5th. The basic materials company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.07. The company had revenue of $158.60 million for the quarter, compared to analyst estimates of $166.42 million. Balchem had a return on equity of 13.87% and a net margin of 12.27%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 earnings per share. Analysts forecast that Balchem Co. will post 3.06 EPS for the current year.
A number of equities analysts have recently weighed in on the company. HC Wainwright reiterated a “positive” rating and set a $110.00 target price (up previously from $95.00) on shares of Balchem in a research note on Wednesday. Zacks Investment Research upgraded Balchem from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Finally, BidaskClub upgraded Balchem from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $107.67.
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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