Balchem Corporation (NASDAQ:BCPC) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its holdings in shares of Balchem Corporation (NASDAQ:BCPC - Free Report) by 37.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,645 shares of the basic materials company's stock after selling 17,170 shares during the period. Edgestream Partners L.P. owned 0.09% of Balchem worth $4,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWM LLC boosted its stake in shares of Balchem by 34.0% during the first quarter. CWM LLC now owns 520 shares of the basic materials company's stock valued at $86,000 after purchasing an additional 132 shares in the last quarter. Xponance Inc. boosted its stake in Balchem by 5.8% in the first quarter. Xponance Inc. now owns 2,447 shares of the basic materials company's stock valued at $406,000 after acquiring an additional 134 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Balchem by 160.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 53,300 shares of the basic materials company's stock valued at $8,596,000 after acquiring an additional 32,800 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Balchem by 2.6% in the first quarter. Principal Financial Group Inc. now owns 169,226 shares of the basic materials company's stock valued at $28,092,000 after acquiring an additional 4,311 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Balchem by 11.8% in the first quarter. Teacher Retirement System of Texas now owns 34,896 shares of the basic materials company's stock valued at $5,793,000 after acquiring an additional 3,695 shares in the last quarter. 87.91% of the stock is currently owned by institutional investors.

Balchem Stock Performance

Shares of Balchem stock traded down $3.06 during trading on Friday, hitting $155.31. 32,677 shares of the company's stock were exchanged, compared to its average volume of 142,766. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.40 and a current ratio of 2.44. The business has a 50-day simple moving average of $163.37 and a 200-day simple moving average of $162.72. Balchem Corporation has a 52-week low of $145.70 and a 52-week high of $186.03. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 3.41 and a beta of 0.89.

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 14.16% and a return on equity of 12.01%. 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 forecast that Balchem Corporation will post 4.64 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. 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. Wall Street Zen downgraded shares of Balchem from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st.

About Balchem

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.