Balchem Co. (BCPC) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. raised its holdings in Balchem Co. (NASDAQ:BCPC) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,036 shares of the basic materials company’s stock after purchasing an additional 1,473 shares during the period. Prudential Financial Inc. owned about 0.19% of Balchem worth $6,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BCPC. Cubist Systematic Strategies LLC purchased a new position in shares of Balchem in the second quarter valued at approximately $218,000. Granahan Investment Management Inc. MA purchased a new position in shares of Balchem in the second quarter valued at approximately $224,000. Bbva Compass Bancshares Inc. purchased a new position in shares of Balchem in the third quarter valued at approximately $226,000. Sigma Planning Corp purchased a new position in shares of Balchem in the second quarter valued at approximately $229,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Balchem in the second quarter valued at approximately $240,000. Institutional investors and hedge funds own 88.17% of the company’s stock.

In related news, Director Daniel E. Knutson acquired 650 shares of Balchem stock in a transaction that occurred on Tuesday, November 13th. The shares were purchased at an average price of $89.11 per share, for a total transaction of $57,921.50. Following the completion of the transaction, the director now owns 1,495 shares in the company, valued at approximately $133,219.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.02% of the company’s stock.

Several research firms have recently weighed in on BCPC. BidaskClub downgraded Balchem from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 28th. Pivotal Research upgraded Balchem from a “hold” rating to a “buy” rating and raised their target price for the company from $95.00 to $100.00 in a research report on Tuesday, November 6th. ValuEngine downgraded Balchem from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Sidoti upgraded Balchem from a “neutral” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Tuesday, October 16th. Finally, HC Wainwright set a $140.00 target price on Balchem and gave the company a “buy” rating in a research report on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $122.33.

NASDAQ BCPC opened at $81.01 on Friday. The company has a market capitalization of $2.64 billion, a PE ratio of 27.91 and a beta of 0.94. Balchem Co. has a 1-year low of $70.23 and a 1-year high of $117.79. The company has a current ratio of 3.42, a quick ratio of 2.33 and a debt-to-equity ratio of 0.27.

Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.73 EPS for the quarter, topping the Zacks’ 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 firm 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 business posted $0.63 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, research analysts predict that Balchem Co. will post 2.45 earnings per share for the current fiscal year.

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Balchem Company Profile

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.

See Also: Diversification

Institutional Ownership by Quarter for Balchem (NASDAQ:BCPC)

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