American Research & Management Co. boosted its stake in shares of Balchem Co. (NASDAQ:BCPC) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,025 shares of the basic materials company’s stock after acquiring an additional 325 shares during the quarter. American Research & Management Co.’s holdings in Balchem were worth $756,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. CI Investments Inc. increased its position in shares of Balchem by 444.0% during the 4th quarter. CI Investments Inc. now owns 272 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 222 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Balchem in the third quarter valued at approximately $56,000. Veriti Management LLC acquired a new position in shares of Balchem in the 4th quarter worth approximately $120,000. 6 Meridian bought a new stake in Balchem during the 4th quarter worth approximately $205,000. Finally, Bailard Inc. acquired a new stake in Balchem during the 4th quarter valued at $217,000. 85.01% of the stock is owned by institutional investors.
Several research firms have recently commented on BCPC. Stephens raised shares of Balchem from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $100.00 to $140.00 in a research note on Monday, March 1st. Zacks Investment Research upgraded shares of Balchem from a “strong sell” rating to a “strong-buy” rating and set a $144.00 target price for the company in a research report on Friday, April 2nd. Finally, HC Wainwright increased their target price on Balchem from $126.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, March 1st.
Balchem (NASDAQ:BCPC) last released its quarterly earnings results on Thursday, February 18th. The basic materials company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. Balchem had a net margin of 12.02% and a return on equity of 14.01%. The business had revenue of $180.70 million for the quarter, compared to the consensus estimate of $175.33 million. During the same period in the prior year, the company posted $0.88 earnings per share. Balchem’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Balchem Co. will post 2.88 earnings per share for the current fiscal year.
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 in the United States and internationally. It operates through three segments: Human Nutrition & Health, Animal Nutrition & Health, and Specialty Products.
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