Zions Bancorporation National Association UT Purchases New Position in Balchem Corporation (NASDAQ:BCPC)

Key Points

• Zions Bancorporation National Association UT acquired a new position in Balchem Corporation, purchasing 10,997 shares valued at approximately $1,826,000.
• Several institutional investors, including Citigroup Inc. and US Bancorp DE, increased their stakes in Balchem during the first quarter, demonstrating growing confidence in the company's performance.
• Balchem reported earnings of $1.27 per share for the last quarter, exceeding estimates, with revenue rising 9.1% year-over-year to $255.47 million.

Zions Bancorporation National Association UT purchased a new stake in shares of Balchem Corporation (NASDAQ:BCPC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,997 shares of the basic materials company's stock, valued at approximately $1,826,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BCPC. Citigroup Inc. boosted its stake in Balchem by 11.4% during the first quarter. Citigroup Inc. now owns 52,799 shares of the basic materials company's stock worth $8,765,000 after acquiring an additional 5,395 shares in the last quarter. Empower Advisory Group LLC boosted its stake in Balchem by 2.8% during the first quarter. Empower Advisory Group LLC now owns 119,057 shares of the basic materials company's stock worth $19,763,000 after acquiring an additional 3,189 shares in the last quarter. Geneva Capital Management LLC boosted its stake in Balchem by 1.4% during the first quarter. Geneva Capital Management LLC now owns 830,813 shares of the basic materials company's stock worth $137,915,000 after acquiring an additional 11,067 shares in the last quarter. Blair William & Co. IL bought a new stake in Balchem during the first quarter worth about $489,000. Finally, US Bancorp DE boosted its stake in Balchem by 36.8% during the first quarter. US Bancorp DE now owns 8,859 shares of the basic materials company's stock worth $1,471,000 after acquiring an additional 2,382 shares in the last quarter. Hedge funds and other institutional investors own 87.91% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $189.00 target price (up from $180.00) on shares of Balchem in a report on Monday, August 4th. Wall Street Zen cut shares of Balchem from a "buy" rating to a "hold" rating in a report on Saturday, July 26th.

Balchem Stock Down 0.1%

BCPC opened at $159.34 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.64 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $159.16 and a 200-day moving average price of $162.13. Balchem Corporation has a twelve month low of $145.70 and a twelve month high of $185.96. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 3.40 and a beta of 0.88.

Balchem (NASDAQ:BCPC - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. The company had revenue of $255.47 million during the quarter, compared to analyst estimates of $250.31 million. Balchem had a net margin of 14.48% and a return on equity of 12.41%. The firm's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 earnings per share. Equities research analysts forecast that Balchem Corporation will post 4.64 earnings per share for the current 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.

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