First National Advisers LLC Takes Position in Balchem Corporation (NASDAQ:BCPC)

Key Points

• First National Advisers LLC has acquired a new stake of approximately $420,000 in Balchem Corporation by purchasing 2,532 shares in Q1 2023.
• Institutional investors and hedge funds currently own 87.91% of Balchem's stock, with several firms increasing their holdings significantly during the same quarter.
• Balchem's quarterly earnings report showed a slight miss in earnings per share of $1.22 against consensus estimates of $1.25, despite a year-over-year revenue growth of 4.5%.

First National Advisers LLC acquired a new position in shares of Balchem Corporation (NASDAQ:BCPC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,532 shares of the basic materials company's stock, valued at approximately $420,000.

Other institutional investors have also made changes to their positions in the company. Covestor Ltd grew its stake in 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 acquiring an additional 76 shares during the period. Federated Hermes Inc. bought a new position in shares of Balchem during the fourth quarter worth about $33,000. Versant Capital Management Inc grew its holdings 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 buying an additional 203 shares in the last quarter. CWM LLC grew its holdings in shares of Balchem by 34.0% during the first quarter. CWM LLC now owns 520 shares of the basic materials company's stock worth $86,000 after buying an additional 132 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Balchem by 30.9% during the fourth quarter. Huntington National Bank now owns 661 shares of the basic materials company's stock worth $108,000 after buying an additional 156 shares in the last quarter. 87.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on BCPC shares. Wall Street Zen downgraded Balchem from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. HC Wainwright set a $180.00 price objective on Balchem and gave the stock a "buy" rating in a report on Monday, April 28th.

Balchem Stock Up 0.0%

NASDAQ BCPC traded up $0.05 during trading hours on Thursday, hitting $152.14. 121,969 shares of the company traded hands, compared to its average volume of 166,355. The business's 50-day moving average is $160.92 and its 200-day moving average is $162.36. Balchem Corporation has a twelve month low of $145.70 and a twelve month high of $185.96. 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 stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 3.30 and a beta of 0.89.

Balchem (NASDAQ:BCPC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.25 by $0.02. Balchem had a return on equity of 12.01% and a net margin of 14.16%. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm's revenue was up 9.1% on a year-over-year basis. Sell-side analysts anticipate that Balchem Corporation will post 4.64 earnings per share for the current year.

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.