Assenagon Asset Management S.A. acquired a new position in Balchem Co. (NASDAQ:BCPC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,606 shares of the basic materials company’s stock, valued at approximately $1,637,000.
Other large investors have also recently added to or reduced their stakes in the company. Zeke Capital Advisors LLC acquired a new position in Balchem during the second quarter valued at approximately $203,000. Cubist Systematic Strategies LLC acquired a new position in Balchem during the second quarter valued at approximately $218,000. Granahan Investment Management Inc. MA acquired a new position in Balchem during the second quarter valued at approximately $224,000. Sigma Planning Corp acquired a new position in Balchem during the second quarter valued at approximately $229,000. Finally, CIBC Asset Management Inc acquired a new position in Balchem during the second quarter valued at approximately $240,000. Hedge funds and other institutional investors own 88.48% of the company’s stock.
Shares of BCPC stock opened at $90.12 on Friday. Balchem Co. has a 12 month low of $70.23 and a 12 month high of $117.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.82 and a current ratio of 3.42. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 35.62 and a beta of 0.97.
Balchem (NASDAQ:BCPC) last announced its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.61 by $0.12. Balchem had a return on equity of 14.51% and a net margin of 15.67%. The company had revenue of $155.04 million for the quarter, compared to the consensus estimate of $163.66 million. During the same quarter last year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Balchem Co. will post 2.45 earnings per share for the current fiscal year.
BCPC has been the topic of several analyst reports. HC Wainwright initiated coverage on Balchem in a report on Tuesday, September 25th. They set a “buy” rating on the stock. Sidoti upgraded Balchem from a “neutral” rating to a “buy” rating and set a $127.00 price target on the stock in a report on Tuesday, October 16th. BidaskClub downgraded Balchem from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 29th. ValuEngine upgraded Balchem from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Finally, Pivotal Research increased their price target on Balchem from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $122.33.
Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization, and industrial markets in the United States and internationally. The company's Human Nutrition & Health segment supplies ingredients in the food and beverage industry.
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