Balchem (NASDAQ:BCPC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Balchem reported a quarterly EPS of $1.27, exceeding analyst expectations of $1.25 by $0.02, and had a revenue of $255.47 million, surpassing estimates of $250.31 million.
• The company experienced a 9.1% year-over-year revenue growth and a net margin of 14.48%, showcasing strong financial performance.
• Several institutional investors significantly increased their holdings in Balchem, indicating strong investor confidence, with 87.91% of the company's stock now owned by institutional investors and hedge funds.

Balchem (NASDAQ:BCPC - Get Free Report) posted its quarterly earnings results on Thursday. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.02, Zacks reports. The business had revenue of $255.47 million for the quarter, compared to analyst estimates of $250.31 million. Balchem had a return on equity of 12.41% and a net margin of 14.48%. The firm's revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $1.09 EPS.

Balchem Price Performance

Shares of NASDAQ BCPC opened at $152.17 on Friday. The firm has a market cap of $4.96 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 3.29 and a beta of 0.89. Balchem has a 1-year low of $145.70 and a 1-year high of $185.96. The company has a current ratio of 2.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $160.02 and its 200-day moving average is $162.22.

Institutional Investors Weigh In On Balchem

A number of large investors have recently modified their holdings of BCPC. Advisors Asset Management Inc. bought a new position in Balchem during the 1st quarter worth $27,000. AQR Capital Management LLC boosted its stake in Balchem by 124.4% during the 1st quarter. AQR Capital Management LLC now owns 5,074 shares of the basic materials company's stock valued at $842,000 after purchasing an additional 2,813 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Balchem by 1,768.2% in the 1st quarter. Jones Financial Companies Lllp now owns 822 shares of the basic materials company's stock worth $136,000 after buying an additional 778 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Balchem by 53.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 246,883 shares of the basic materials company's stock worth $40,983,000 after purchasing an additional 86,132 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Balchem by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 100,860 shares of the basic materials company's stock worth $16,743,000 after purchasing an additional 9,118 shares during the period. Institutional investors and hedge funds own 87.91% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wall Street Zen lowered Balchem from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. HC Wainwright set a $180.00 price objective on Balchem and gave the company a "buy" rating in a research note on Monday, April 28th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.