Assenagon Asset Management S.A. Increases Stake in Balchem Co. (NASDAQ:BCPC)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd lifted its stake in Balchem by 93.8% during the 4th quarter. Covestor Ltd now owns 157 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 76 shares during the period. Federated Hermes Inc. bought a new position in Balchem during the 4th quarter valued at about $33,000. Versant Capital Management Inc lifted its stake in Balchem by 534.2% during the 1st quarter. Versant Capital Management Inc now owns 241 shares of the basic materials company's stock valued at $40,000 after acquiring an additional 203 shares during the period. Venturi Wealth Management LLC bought a new position in Balchem during the 4th quarter valued at about $95,000. Finally, Smartleaf Asset Management LLC lifted its stake in Balchem by 230.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 645 shares of the basic materials company's stock valued at $106,000 after acquiring an additional 450 shares during the period. Institutional investors own 87.91% of the company's stock.

Balchem Stock Performance

Balchem stock traded down $2.35 during midday trading on Friday, hitting $161.53. The stock had a trading volume of 176,698 shares, compared to its average volume of 140,938. The firm's fifty day moving average is $162.92 and its two-hundred day moving average is $164.78. The company has a market capitalization of $5.27 billion, a PE ratio of 41.10, a P/E/G ratio of 4.41 and a beta of 0.91. Balchem Co. has a 52-week low of $145.70 and a 52-week high of $186.03. 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 earnings results on Thursday, April 24th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.03). The firm 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%. The company's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 earnings per share. On average, research analysts forecast that Balchem Co. will post 4.64 EPS for the current year.

Analysts Set New Price Targets

BCPC has been the topic of several recent research reports. Wall Street Zen cut shares of Balchem from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. HC Wainwright set a $180.00 price objective on shares of Balchem and gave the stock a "buy" rating in a research note on Monday, April 28th. Finally, Sidoti upgraded shares of Balchem to a "hold" rating in a research note on Tuesday, February 25th.

Balchem 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.