Balchem Corporation (BCPC) Short Interest Up 31.6% in October
Balchem Corporation (NASDAQ:BCPC) saw a large growth in short interest during the month of October. As of October 13th, there was short interest totalling 1,176,677 shares, a growth of 31.6% from the September 29th total of 894,154 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average trading volume of 84,211 shares, the short-interest ratio is presently 14.0 days.
Shares of Balchem Corporation (NASDAQ:BCPC) opened at 84.07 on Friday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 43.56 and a beta of 1.12. The firm has a 50-day moving average of $80.29 and a 200 day moving average of $78.78. Balchem Corporation has a 1-year low of $67.71 and a 1-year high of $89.50.
Balchem Corporation (NASDAQ:BCPC) last issued its earnings results on Friday, August 4th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. The business had revenue of $147.08 million during the quarter. Balchem Corporation had a net margin of 10.99% and a return on equity of 14.99%. Equities research analysts forecast that Balchem Corporation will post $2.47 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Balchem Corporation by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,885,217 shares of the basic materials company’s stock worth $224,210,000 after buying an additional 40,016 shares during the last quarter. Wasatch Advisors Inc. raised its holdings in Balchem Corporation by 4.6% in the second quarter. Wasatch Advisors Inc. now owns 1,153,188 shares of the basic materials company’s stock worth $89,614,000 after buying an additional 50,841 shares during the last quarter. State Street Corp raised its holdings in Balchem Corporation by 5.2% in the second quarter. State Street Corp now owns 780,131 shares of the basic materials company’s stock worth $60,619,000 after buying an additional 38,522 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Balchem Corporation by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 723,504 shares of the basic materials company’s stock worth $56,223,000 after buying an additional 8,869 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Balchem Corporation by 3.1% in the second quarter. Northern Trust Corp now owns 462,786 shares of the basic materials company’s stock worth $35,962,000 after buying an additional 13,736 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.
Separately, BidaskClub lowered shares of Balchem Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st.
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Balchem Corporation Company Profile
Balchem Corporation is engaged in the development, manufacture and marketing of specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization and industrial markets. The Company operates in four segments: Human Nutrition & Health, Animal Nutrition & Health, Specialty Products and Industrial Products.
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