Congress Asset Management Co. boosted its stake in shares of Balchem Co. (NASDAQ:BCPC - Free Report) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 358,500 shares of the basic materials company's stock after purchasing an additional 40,890 shares during the period. Congress Asset Management Co. owned about 1.10% of Balchem worth $59,511,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vest Financial LLC bought a new position in Balchem in the first quarter worth approximately $833,000. Annex Advisory Services LLC increased its stake in shares of Balchem by 17.5% in the first quarter. Annex Advisory Services LLC now owns 8,806 shares of the basic materials company's stock worth $1,462,000 after purchasing an additional 1,310 shares in the last quarter. Portside Wealth Group LLC increased its stake in shares of Balchem by 16.7% in the first quarter. Portside Wealth Group LLC now owns 1,800 shares of the basic materials company's stock worth $293,000 after purchasing an additional 258 shares in the last quarter. Heritage Family Offices LLP increased its stake in shares of Balchem by 5.9% in the first quarter. Heritage Family Offices LLP now owns 1,504 shares of the basic materials company's stock worth $250,000 after purchasing an additional 84 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Balchem by 0.4% in the first quarter. Rhumbline Advisers now owns 87,563 shares of the basic materials company's stock worth $14,535,000 after purchasing an additional 314 shares in the last quarter. Institutional investors own 87.91% of the company's stock.
Wall Street Analyst Weigh In
BCPC has been the subject of a number of analyst reports. Sidoti raised shares of Balchem to a "hold" rating in a research note on Tuesday, February 25th. Wall Street Zen cut shares of Balchem from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, 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.
Check Out Our Latest Stock Report on Balchem
Balchem Stock Performance
BCPC opened at $166.22 on Friday. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 4.41 and a beta of 0.91. The company has a fifty day moving average of $162.16 and a 200 day moving average of $165.43. 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.
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 the consensus estimate 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 13.47% and a return on equity of 11.37%. The business's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. As a group, sell-side analysts forecast that Balchem Co. will post 4.64 earnings per share for the current fiscal year.
About Balchem
(
Free Report)
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.
See Also
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.
Before you consider Balchem, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Balchem wasn't on the list.
While Balchem currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
