Dark Forest Capital Management LP Makes New Investment in Balchem Co. (NASDAQ:BCPC)

Dark Forest Capital Management LP acquired a new position in shares of Balchem Co. (NASDAQ:BCPC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,439 shares of the basic materials company's stock, valued at approximately $561,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Covestor Ltd lifted its holdings in Balchem by 93.8% in the fourth quarter. Covestor Ltd now owns 157 shares of the basic materials company's stock worth $26,000 after purchasing an additional 76 shares during the period. Westside Investment Management Inc. purchased a new position in Balchem during the third quarter valued at approximately $27,000. R Squared Ltd purchased a new position in Balchem in the fourth quarter valued at about $29,000. Federated Hermes Inc. bought a new position in Balchem during the fourth quarter valued at approximately $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Balchem during the third quarter worth $35,000. 87.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Sidoti upgraded shares of Balchem to a "hold" rating in a report on Tuesday, February 25th. StockNews.com cut Balchem from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, HC Wainwright set a $180.00 price objective on shares of Balchem and gave the stock a "buy" rating in a research report on Monday.

Balchem Stock Down 0.6 %

Shares of NASDAQ:BCPC traded down $0.87 during midday trading on Thursday, hitting $155.68. The stock had a trading volume of 55,953 shares, compared to its average volume of 133,533. Balchem Co. has a 12 month low of $141.09 and a 12 month high of $186.03. The company has a quick ratio of 1.16, a current ratio of 1.99 and a debt-to-equity ratio of 0.19. The business's 50-day simple moving average is $163.69 and its 200-day simple moving average is $166.87. The company has a market cap of $5.06 billion, a P/E ratio of 39.58, a PEG ratio of 4.41 and a beta of 0.75.

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

About Balchem

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.