Envestnet Asset Management Inc. Sells 29,792 Shares of Balchem Corporation (NASDAQ:BCPC)

Envestnet Asset Management Inc. lessened its position in shares of Balchem Corporation (NASDAQ:BCPC - Free Report) by 25.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,571 shares of the basic materials company's stock after selling 29,792 shares during the period. Envestnet Asset Management Inc. owned approximately 0.27% of Balchem worth $14,703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its holdings in Balchem by 8.2% in the 4th quarter. Quadrant Capital Group LLC now owns 989 shares of the basic materials company's stock worth $161,000 after acquiring an additional 75 shares during the period. Covestor Ltd boosted its stake in shares of Balchem by 93.8% in 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. Vident Advisory LLC grew its stake in shares of Balchem by 6.0% during the fourth quarter. Vident Advisory LLC now owns 1,421 shares of the basic materials company's stock valued at $232,000 after acquiring an additional 80 shares in the last quarter. Heritage Family Offices LLP raised its position in shares of Balchem by 5.9% in the 1st quarter. Heritage Family Offices LLP now owns 1,504 shares of the basic materials company's stock valued at $250,000 after purchasing an additional 84 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Balchem by 2.2% during the 4th quarter. Mackenzie Financial Corp now owns 3,840 shares of the basic materials company's stock valued at $626,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 87.91% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BCPC shares. HC Wainwright set a $180.00 price objective on shares of Balchem and gave the stock a "buy" rating in a research note on Monday, April 28th. Wall Street Zen cut Balchem from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st.

Balchem Stock Down 3.5%

NASDAQ BCPC traded down $5.53 during trading on Friday, hitting $152.84. 232,035 shares of the company traded hands, compared to its average volume of 143,747. The company has a market capitalization of $4.99 billion, a P/E ratio of 36.65, a PEG ratio of 3.30 and a beta of 0.89. The business has a fifty day simple moving average of $163.15 and a 200 day simple moving average of $162.65. Balchem Corporation has a 12 month low of $145.70 and a 12 month high of $186.03. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.18.

Balchem (NASDAQ:BCPC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.03). The business had revenue of $250.52 million during the quarter, compared to the consensus estimate of $245.70 million. Balchem had a return on equity of 12.01% and a net margin of 14.16%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, sell-side 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.