Assenagon Asset Management S.A. Raises Position in Balchem Corporation (NASDAQ:BCPC)

Assenagon Asset Management S.A. increased its holdings in shares of Balchem Corporation (NASDAQ:BCPC - Free Report) by 343.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,309 shares of the basic materials company's stock after buying an additional 51,348 shares during the quarter. Assenagon Asset Management S.A. owned 0.20% of Balchem worth $11,007,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Apollon Wealth Management LLC acquired a new stake in shares of Balchem in the 4th quarter valued at about $503,000. Allspring Global Investments Holdings LLC grew its holdings in Balchem by 2.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 92,796 shares of the basic materials company's stock worth $15,125,000 after purchasing an additional 1,822 shares during the period. Van ECK Associates Corp grew its holdings in Balchem by 4.8% during the fourth quarter. Van ECK Associates Corp now owns 67,362 shares of the basic materials company's stock worth $10,980,000 after purchasing an additional 3,110 shares during the period. Congress Asset Management Co. grew its holdings in Balchem by 5.4% during the fourth quarter. Congress Asset Management Co. now owns 317,610 shares of the basic materials company's stock worth $51,769,000 after purchasing an additional 16,170 shares during the period. Finally, Vista Finance LLC acquired a new stake in Balchem during the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 87.91% of the company's stock.

Balchem Stock Down 0.4%

Shares of BCPC stock traded down $0.68 on Tuesday, reaching $159.32. 149,073 shares of the company were exchanged, compared to its average volume of 141,157. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 3.45 and a beta of 0.91. The company has a 50-day moving average of $163.11 and a 200-day moving average of $164.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.44 and a quick ratio of 1.40. Balchem Corporation has a one year low of $145.70 and a one year high of $186.03.

Balchem (NASDAQ:BCPC - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.22 earnings per share 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 analyst estimates of $245.70 million. Balchem had a return on equity of 12.01% and a net margin of 14.16%. The company's revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. Analysts anticipate that Balchem Corporation will post 4.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BCPC. Wall Street Zen downgraded shares of Balchem from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Sidoti upgraded shares of Balchem to a "hold" rating in a research report on Tuesday, February 25th. Finally, HC Wainwright set a $180.00 price target on shares of Balchem and gave the stock a "buy" rating in a report on Monday, April 28th.

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.