Principal Financial Group Inc. lowered its position in Balchem Co. (NASDAQ:BCPC) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 230,194 shares of the basic materials company’s stock after selling 5,855 shares during the period. Principal Financial Group Inc.’s holdings in Balchem were worth $26,522,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the business. Cardinal Capital Management raised its position in shares of Balchem by 1.0% in the fourth quarter. Cardinal Capital Management now owns 18,005 shares of the basic materials company’s stock worth $2,075,000 after acquiring an additional 171 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Balchem by 4.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,880 shares of the basic materials company’s stock worth $447,000 after purchasing an additional 174 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Balchem by 0.4% during the 3rd quarter. California State Teachers Retirement System now owns 48,706 shares of the basic materials company’s stock worth $4,755,000 after purchasing an additional 193 shares during the last quarter. CI Investments Inc. raised its position in shares of Balchem by 444.0% during the 4th quarter. CI Investments Inc. now owns 272 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 222 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Balchem by 10.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,228 shares of the basic materials company’s stock worth $487,000 after purchasing an additional 413 shares during the last quarter. Institutional investors and hedge funds own 85.01% of the company’s stock.
Shares of NASDAQ BCPC opened at $120.87 on Thursday. Balchem Co. has a 12-month low of $79.75 and a 12-month high of $132.50. The stock has a market cap of $3.92 billion, a PE ratio of 47.40 and a beta of 0.54. The company has a current ratio of 3.95, a quick ratio of 2.82 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $124.20 and a 200 day moving average of $112.84.
Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Thursday, February 18th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. Balchem had a net margin of 12.02% and a return on equity of 14.01%. The company had revenue of $180.70 million during the quarter, compared to analysts’ expectations of $175.33 million. During the same quarter in the prior year, the company earned $0.88 EPS. Balchem’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts forecast that Balchem Co. will post 2.88 EPS for the current fiscal year.
BCPC has been the subject of several research analyst reports. HC Wainwright upped their price target on shares of Balchem from $126.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. Zacks Investment Research upgraded shares of Balchem from a “strong sell” rating to a “strong-buy” rating and set a $144.00 price target for the company in a research report on Friday, April 2nd. Finally, Stephens raised shares of Balchem from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $100.00 to $140.00 in a research note on Monday, March 1st.
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 & Health, Animal Nutrition & Health, and Specialty Products.
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