Balchem Co. (NASDAQ:BCPC) Shares Purchased by Comerica Bank

Comerica Bank increased its stake in shares of Balchem Co. (NASDAQ:BCPC - Free Report) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,144 shares of the basic materials company's stock after buying an additional 2,370 shares during the quarter. Comerica Bank owned about 0.31% of Balchem worth $16,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Balchem by 405.8% during the third quarter. Barclays PLC now owns 60,777 shares of the basic materials company's stock worth $10,695,000 after purchasing an additional 48,762 shares during the period. Westside Investment Management Inc. purchased a new stake in shares of Balchem during the third quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Balchem in the third quarter worth about $35,000. Tidal Investments LLC lifted its stake in Balchem by 10.5% in the 3rd quarter. Tidal Investments LLC now owns 7,975 shares of the basic materials company's stock worth $1,404,000 after purchasing an additional 761 shares in the last quarter. Finally, Independent Solutions Wealth Management LLC purchased a new stake in shares of Balchem in the third quarter valued at approximately $203,000. Hedge funds and other institutional investors own 87.91% of the company's stock.

Balchem Price Performance

Shares of NASDAQ:BCPC traded down $141.11 on Wednesday, reaching $22.57. 14,141 shares of the company were exchanged, compared to its average volume of 134,013. The firm has a market cap of $736.17 million, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 4.41 and a beta of 0.93. Balchem Co. has a 1-year low of $145.70 and a 1-year high of $186.03. The company has a 50-day moving average of $162.92 and a 200-day moving average of $166.54. The company has a current ratio of 1.99, a quick ratio of 1.16 and a debt-to-equity ratio of 0.19.

Balchem (NASDAQ:BCPC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.03). The business had revenue of $250.52 million during the quarter, compared to analysts' expectations of $245.70 million. Balchem had a return on equity of 11.37% and a net margin of 13.47%. Balchem's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Equities analysts forecast that Balchem Co. will post 4.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BCPC has been the subject of several recent analyst reports. StockNews.com cut shares of Balchem from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Sidoti raised Balchem to a "hold" rating in a report on Tuesday, February 25th. Finally, HC Wainwright set a $180.00 price target on shares of 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.