Allspring Global Investments Holdings LLC Sells 4,163 Shares of Balchem Corporation (NASDAQ:BCPC)

Allspring Global Investments Holdings LLC cut its stake in shares of Balchem Corporation (NASDAQ:BCPC - Free Report) by 4.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,633 shares of the basic materials company's stock after selling 4,163 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.27% of Balchem worth $14,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Balchem by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,961,487 shares of the basic materials company's stock valued at $645,703,000 after purchasing an additional 42,693 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Balchem by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 938,504 shares of the basic materials company's stock worth $153,000,000 after buying an additional 9,600 shares during the period. Geneva Capital Management LLC raised its holdings in Balchem by 5.1% during the 4th quarter. Geneva Capital Management LLC now owns 819,746 shares of the basic materials company's stock valued at $133,615,000 after buying an additional 39,877 shares during the last quarter. FMR LLC boosted its position in Balchem by 16.0% during the 4th quarter. FMR LLC now owns 576,994 shares of the basic materials company's stock valued at $94,047,000 after buying an additional 79,499 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Balchem by 11.0% in the 4th quarter. JPMorgan Chase & Co. now owns 509,490 shares of the basic materials company's stock worth $83,044,000 after acquiring an additional 50,504 shares during the last quarter. 87.91% of the stock is currently owned by institutional investors.

Balchem Trading Up 1.1%

Shares of Balchem stock traded up $1.72 during midday trading on Thursday, reaching $164.92. 83,019 shares of the company's stock traded hands, compared to its average volume of 142,656. The company has a market cap of $5.38 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 3.49 and a beta of 0.89. The stock has a 50 day moving average of $162.96 and a 200-day moving average of $163.21. Balchem Corporation has a 12 month low of $145.70 and a 12 month high of $186.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.40 and a current ratio of 2.44.

Balchem (NASDAQ:BCPC - Get Free Report) last issued 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 company had revenue of $250.52 million during the quarter, compared to the consensus estimate of $245.70 million. Balchem had a return on equity of 12.01% and a net margin of 14.16%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. As a group, equities analysts expect that Balchem Corporation will post 4.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BCPC. HC Wainwright set a $180.00 price objective on shares of Balchem and gave the company a "buy" rating in a research note on Monday, April 28th. Wall Street Zen downgraded Balchem from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st.

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.