Wendell David Associates Inc. Sells 2,450 Shares of Balchem Corporation (NASDAQ:BCPC)

Wendell David Associates Inc. reduced its holdings in Balchem Corporation (NASDAQ:BCPC - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,127 shares of the basic materials company's stock after selling 2,450 shares during the period. Wendell David Associates Inc. owned about 0.05% of Balchem worth $2,843,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BCPC. Norges Bank purchased a new stake in shares of Balchem during the fourth quarter worth $70,165,000. GAMMA Investing LLC grew its stake in Balchem by 20,231.2% in the first quarter. GAMMA Investing LLC now owns 177,288 shares of the basic materials company's stock valued at $29,430,000 after purchasing an additional 176,416 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Balchem in the 4th quarter worth about $23,628,000. Bank of America Corp DE raised its stake in shares of Balchem by 120.9% during the 4th 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 in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Balchem during the 4th quarter worth about $13,359,000. 87.91% of the stock is currently owned by institutional investors and hedge funds.

Balchem Stock Down 2.4%

Balchem stock traded down $3.76 during mid-day trading on Friday, hitting $156.01. 283,441 shares of the company's stock were exchanged, 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 stock has a 50 day moving average of $163.18 and a two-hundred day moving average of $164.32. 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 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 issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.22 earnings per share for the quarter, missing analysts' consensus estimates 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%. The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. As a group, analysts anticipate that Balchem Corporation will post 4.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BCPC has been the subject of several recent research reports. HC Wainwright set a $180.00 price target on Balchem and gave the company a "buy" rating in a research note 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 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.