Conestoga Capital Advisors LLC Trims Position in Balchem Corporation (NASDAQ:BCPC)

Conestoga Capital Advisors LLC lessened its stake in Balchem Corporation (NASDAQ:BCPC - Free Report) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,166,395 shares of the basic materials company's stock after selling 8,489 shares during the period. Balchem makes up approximately 2.9% of Conestoga Capital Advisors LLC's holdings, making the stock its 8th largest position. Conestoga Capital Advisors LLC owned about 3.59% of Balchem worth $193,622,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Covestor Ltd increased its holdings 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 buying an additional 76 shares during the last quarter. Federated Hermes Inc. purchased a new stake in Balchem in the fourth quarter worth about $33,000. Versant Capital Management Inc increased its position in Balchem by 534.2% in the first quarter. Versant Capital Management Inc now owns 241 shares of the basic materials company's stock worth $40,000 after buying an additional 203 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Balchem in the fourth quarter worth about $95,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of 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 buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 87.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Sidoti upgraded shares of Balchem to a "hold" rating in a research report on Tuesday, February 25th. HC Wainwright set a $180.00 target price on shares of Balchem and gave the company a "buy" rating in a research note on Monday, April 28th. Finally, Wall Street Zen lowered Balchem from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st.

Balchem Price Performance

Shares of NASDAQ:BCPC traded down $3.76 during trading on Friday, hitting $156.01. 283,441 shares of the company's stock were exchanged, compared to its average volume of 141,707. The business's 50-day simple moving average is $163.18 and its 200 day simple moving average is $164.32. 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 52-week low of $145.70 and a 52-week high of $186.03. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 3.45 and a beta of 0.91.

Balchem (NASDAQ:BCPC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $250.52 million for the quarter, compared to analysts' expectations of $245.70 million. Balchem had a net margin of 14.16% and a return on equity of 12.01%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.03 earnings per share. As a group, equities analysts predict that Balchem Corporation will post 4.64 EPS for the current year.

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.