Balchem Co. (NASDAQ:BCPC) Shares Bought by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in shares of Balchem Co. (NASDAQ:BCPC - Free Report) by 120.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,562 shares of the basic materials company's stock after purchasing an additional 85,692 shares during the period. Bank of America Corp DE owned about 0.48% of Balchem worth $25,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in Balchem by 93.8% during the fourth quarter. Covestor Ltd now owns 157 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 76 shares during the period. R Squared Ltd acquired a new position in Balchem during the fourth quarter valued at $29,000. Federated Hermes Inc. acquired a new position in Balchem during the fourth quarter valued at $33,000. Venturi Wealth Management LLC acquired a new position in Balchem during the fourth quarter valued at $95,000. Finally, Smartleaf Asset Management LLC lifted its position in Balchem by 230.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 645 shares of the basic materials company's stock valued at $106,000 after purchasing an additional 450 shares during the period. 87.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BCPC shares. StockNews.com upgraded shares of Balchem from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Sidoti raised shares of Balchem 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 company a "buy" rating in a report on Monday, April 28th.

Balchem Stock Up 0.7%

BCPC opened at $168.26 on Friday. Balchem Co. has a fifty-two week low of $145.70 and a fifty-two week high of $186.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.16 and a current ratio of 1.99. The company has a fifty day moving average of $161.69 and a two-hundred day moving average of $166.35. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 42.81, a PEG ratio of 4.41 and a beta of 0.93.

Balchem (NASDAQ:BCPC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $250.52 million during the quarter, compared to analysts' expectations of $245.70 million. Balchem had a net margin of 13.47% and a return on equity of 11.37%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. On average, research analysts expect that Balchem Co. will post 4.64 earnings per share for the current year.

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.

Want to see what other hedge funds are holding BCPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Balchem Co. (NASDAQ:BCPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.