Allianz Asset Management GmbH cut its position in Balchem Co. (NASDAQ:BCPC) by 47.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,113 shares of the basic materials company’s stock after selling 45,676 shares during the quarter. Allianz Asset Management GmbH owned 0.16% of Balchem worth $5,109,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in BCPC. Moody Aldrich Partners LLC lifted its stake in shares of Balchem by 2.7% in the second quarter. Moody Aldrich Partners LLC now owns 62,559 shares of the basic materials company’s stock valued at $6,254,000 after buying an additional 1,667 shares in the last quarter. Biondo Investment Advisors LLC bought a new position in shares of Balchem in the second quarter valued at $200,000. Wasatch Advisors Inc. raised its holdings in shares of Balchem by 6.3% in the first quarter. Wasatch Advisors Inc. now owns 1,232,837 shares of the basic materials company’s stock valued at $114,407,000 after purchasing an additional 73,439 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Balchem by 0.5% in the second quarter. Bessemer Group Inc. now owns 50,558 shares of the basic materials company’s stock valued at $5,054,000 after purchasing an additional 258 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of Balchem in the first quarter valued at about $278,000. Institutional investors and hedge funds own 86.43% of the company’s stock.
Shares of NASDAQ:BCPC opened at $104.49 on Friday. Balchem Co. has a twelve month low of $73.16 and a twelve month high of $117.79. The firm has a market capitalization of $3.38 billion, a PE ratio of 34.71 and a beta of 1.17. The company has a quick ratio of 2.63, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $91.67 and a two-hundred day moving average price of $94.91.
Balchem (NASDAQ:BCPC) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.08. Balchem had a net margin of 12.27% and a return on equity of 13.87%. The business had revenue of $161.60 million during the quarter, compared to analyst estimates of $163.14 million. During the same period in the previous year, the business posted $0.76 earnings per share. Balchem’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts anticipate that Balchem Co. will post 2.96 earnings per share for the current fiscal year.
Several analysts have recently commented on BCPC shares. Zacks Investment Research downgraded shares of Balchem from a “hold” rating to a “sell” rating in a report on Monday, August 5th. HC Wainwright reiterated a “buy” rating and issued a $95.00 target price (down previously from $110.00) on shares of Balchem in a report on Monday, August 5th. Finally, BidaskClub upgraded shares of Balchem from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $108.75.
In related news, VP Scott C. Mason acquired 3,000 shares of Balchem stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $84.74 per share, with a total value of $254,220.00. Following the transaction, the vice president now owns 12,524 shares in the company, valued at $1,061,283.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP David F. Ludwig sold 12,750 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $90.00, for a total transaction of $1,147,500.00. Following the sale, the vice president now owns 21,038 shares in the company, valued at approximately $1,893,420. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.
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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