Trust Point Inc. Sells 1,636 Shares of Balchem Corporation (NASDAQ:BCPC)

Trust Point Inc. trimmed its position in Balchem Corporation (NASDAQ:BCPC - Free Report) by 33.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,311 shares of the basic materials company's stock after selling 1,636 shares during the period. Trust Point Inc.'s holdings in Balchem were worth $550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Balchem during the 4th quarter worth about $70,165,000. GAMMA Investing LLC increased its position in Balchem by 20,231.2% during the first quarter. GAMMA Investing LLC now owns 177,288 shares of the basic materials company's stock worth $29,430,000 after purchasing an additional 176,416 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Balchem during the fourth quarter worth approximately $23,628,000. Bank of America Corp DE raised its stake in Balchem by 120.9% during the fourth quarter. Bank of America Corp DE now owns 156,562 shares of the basic materials company's stock worth $25,519,000 after purchasing an additional 85,692 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Balchem in the 4th quarter valued at $13,359,000. Hedge funds and other institutional investors own 87.91% of the company's stock.

Analysts Set New Price Targets

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

Balchem Stock Performance

Shares of NASDAQ BCPC traded down $3.78 during midday trading on Friday, hitting $156.00. The company's stock had a trading volume of 170,673 shares, compared to its average volume of 141,707. Balchem Corporation has a 1-year low of $145.70 and a 1-year high of $186.03. 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 firm's fifty day moving average price is $163.18 and its 200-day moving average price is $164.32. The firm has a market cap of $5.09 billion, a P/E ratio of 37.41, a P/E/G ratio of 3.45 and a beta of 0.91.

Balchem (NASDAQ:BCPC - Get Free Report) last posted its quarterly 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). The company had revenue of $250.52 million during the quarter, compared to the consensus estimate of $245.70 million. Balchem had a net margin of 14.16% and a return on equity of 12.01%. Balchem's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. On average, sell-side analysts forecast that Balchem Corporation will post 4.64 EPS for the current fiscal 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.