Balchem Co. (NASDAQ:BCPC) Sees Significant Growth in Short Interest

Balchem Co. (NASDAQ:BCPC) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 492,400 shares, an increase of 12.8% from the November 30th total of 436,600 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 125,700 shares, the days-to-cover ratio is presently 3.9 days.

Balchem Stock Down 0.7 %

NASDAQ:BCPC traded down $1.19 during mid-day trading on Monday, hitting $163.97. The company had a trading volume of 73,139 shares, compared to its average volume of 112,132. The business has a fifty day simple moving average of $174.41 and a 200-day simple moving average of $170.31. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 44.08, a PEG ratio of 5.32 and a beta of 0.67. Balchem has a 1 year low of $135.84 and a 1 year high of $186.03. The company has a current ratio of 2.98, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21.

Balchem Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, December 26th will be given a dividend of $0.87 per share. The ex-dividend date is Thursday, December 26th. This is a positive change from Balchem’s previous annual dividend of $0.79. This represents a yield of 0.4%. Balchem’s payout ratio is 23.39%.

Wall Street Analyst Weigh In

BCPC has been the subject of a number of research reports. HC Wainwright boosted their target price on Balchem from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com upgraded shares of Balchem from a “hold” rating to a “buy” rating in a research note on Monday, October 28th.

Hedge Funds Weigh In On Balchem

A number of institutional investors and hedge funds have recently bought and sold shares of BCPC. JPMorgan Chase & Co. lifted its position in shares of Balchem by 1.7% during the third quarter. JPMorgan Chase & Co. now owns 458,986 shares of the basic materials company’s stock worth $80,782,000 after purchasing an additional 7,721 shares in the last quarter. Independent Solutions Wealth Management LLC acquired a new position in Balchem in the 3rd quarter worth $203,000. Tidal Investments LLC boosted its position in Balchem by 10.5% in the 3rd quarter. Tidal Investments LLC now owns 7,975 shares of the basic materials company’s stock valued at $1,404,000 after buying an additional 761 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Balchem during the third quarter valued at about $35,000. Finally, Westside Investment Management Inc. purchased a new stake in shares of Balchem during the third quarter worth about $27,000. Hedge funds and other institutional investors own 87.91% of the company’s stock.

Balchem Company Profile

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 worldwide. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.