Congress Asset Management Co. Increases Stock Position in Balchem Co. (NASDAQ:BCPC)

Congress Asset Management Co. grew its holdings in shares of Balchem Co. (NASDAQ:BCPC - Free Report) by 12.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 358,500 shares of the basic materials company's stock after acquiring an additional 40,890 shares during the period. Congress Asset Management Co. owned about 1.10% of Balchem worth $59,511,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Covestor Ltd raised its position in Balchem by 93.8% during the 4th quarter. Covestor Ltd now owns 157 shares of the basic materials company's stock worth $26,000 after purchasing an additional 76 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Balchem in the fourth quarter valued at about $33,000. Versant Capital Management Inc raised its position in shares of Balchem by 534.2% during the first quarter. Versant Capital Management Inc now owns 241 shares of the basic materials company's stock worth $40,000 after acquiring an additional 203 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Balchem in the fourth quarter worth approximately $95,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Balchem by 230.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 645 shares of the basic materials company's stock worth $106,000 after acquiring an additional 450 shares during the period. Institutional investors own 87.91% of the company's stock.

Balchem Stock Down 0.3%

NASDAQ BCPC traded down $0.43 on Tuesday, hitting $167.64. 270,237 shares of the company were exchanged, compared to its average volume of 139,786. The company has a current ratio of 1.99, a quick ratio of 1.16 and a debt-to-equity ratio of 0.19. The company has a market cap of $5.47 billion, a PE ratio of 42.66, a PEG ratio of 4.41 and a beta of 0.91. The stock has a fifty day moving average of $162.32 and a 200-day moving average of $165.16. Balchem Co. has a 12 month low of $145.70 and a 12 month high of $186.03.

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 for the quarter, missing the consensus estimate of $1.25 by ($0.03). The company had revenue of $250.52 million for the quarter, compared to analyst estimates of $245.70 million. Balchem had a net margin of 13.47% and a return on equity of 11.37%. Balchem's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 EPS. As a group, analysts forecast that Balchem Co. will post 4.64 earnings per share for the current year.

Analyst Ratings Changes

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

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.