Tributary Capital Management LLC Lowers Position in Balchem Corporation (NASDAQ:BCPC)

Tributary Capital Management LLC reduced its position in shares of Balchem Corporation (NASDAQ:BCPC - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,937 shares of the basic materials company's stock after selling 4,318 shares during the period. Balchem accounts for about 1.9% of Tributary Capital Management LLC's investment portfolio, making the stock its 14th largest position. Tributary Capital Management LLC owned about 0.40% of Balchem worth $21,902,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BCPC. Covestor Ltd raised its holdings 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 buying an additional 76 shares during the period. Federated Hermes Inc. purchased a new position in Balchem in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc raised its holdings in Balchem by 534.2% in the first quarter. Versant Capital Management Inc now owns 241 shares of the basic materials company's stock valued at $40,000 after buying an additional 203 shares during the period. CWM LLC raised its holdings in Balchem by 34.0% in the first quarter. CWM LLC now owns 520 shares of the basic materials company's stock valued at $86,000 after buying an additional 132 shares during the period. Finally, Huntington National Bank raised its holdings in Balchem by 30.9% in the fourth quarter. Huntington National Bank now owns 661 shares of the basic materials company's stock valued at $108,000 after buying an additional 156 shares during the period. 87.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. HC Wainwright set a $180.00 price target on shares of Balchem and gave the stock 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 report on Wednesday, May 21st.

Balchem Stock Performance

Balchem stock traded down $5.53 during trading hours on Friday, reaching $152.84. 232,035 shares of the company were exchanged, compared to its average volume of 143,747. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 36.65, a PEG ratio of 3.30 and a beta of 0.89. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $163.15 and a 200 day moving average of $162.67. Balchem Corporation has a 12 month low of $145.70 and a 12 month high of $186.03.

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