Millennium Management LLC Increases Stake in Balchem Co. (NASDAQ:BCPC)

Millennium Management LLC boosted its stake in Balchem Co. (NASDAQ:BCPC - Free Report) by 86.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,709 shares of the basic materials company's stock after purchasing an additional 11,909 shares during the period. Millennium Management LLC owned about 0.08% of Balchem worth $4,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Covestor Ltd grew its stake in Balchem by 93.8% during the fourth 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 period. R Squared Ltd bought a new stake in shares of Balchem during the fourth quarter worth about $29,000. Federated Hermes Inc. acquired a new stake in shares of Balchem in the 4th quarter worth about $33,000. Venturi Wealth Management LLC bought a new position in Balchem during the 4th quarter valued at $95,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Balchem by 230.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 645 shares of the basic materials company's stock worth $106,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 87.91% of the company's stock.

Analyst Upgrades and Downgrades

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

Balchem Price Performance

Shares of BCPC traded up $0.72 during mid-day trading on Tuesday, reaching $166.40. 10,540 shares of the stock traded hands, compared to its average volume of 137,864. Balchem Co. has a 1 year low of $145.70 and a 1 year high of $186.03. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 42.34, a price-to-earnings-growth ratio of 4.41 and a beta of 0.93. 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 firm has a fifty day moving average price of $162.13 and a 200 day moving average price of $165.58.

Balchem (NASDAQ:BCPC - Get Free Report) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.03). Balchem had a return on equity of 11.37% and a net margin of 13.47%. The company had revenue of $250.52 million during the quarter, compared to analysts' expectations of $245.70 million. During the same quarter last year, the firm posted $1.03 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Balchem Co. 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.