Balchem Co. (NASDAQ:BCPC) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 815,200 shares, an increase of 15.7% from the June 30th total of 704,300 shares. Based on an average daily volume of 109,500 shares, the days-to-cover ratio is presently 7.4 days. Currently, 2.6% of the shares of the company are sold short.

In other Balchem news, VP Scott C. Mason purchased 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $84.74 per share, with a total value of $254,220.00. Following the completion of the transaction, the vice president now owns 12,524 shares in the company, valued at approximately $1,061,283.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.28% of the company’s stock.

Several hedge funds have recently made changes to their positions in BCPC. CWM LLC acquired a new position in Balchem in the 2nd quarter worth $31,000. First Hawaiian Bank boosted its stake in Balchem by 68.0% in the 1st quarter. First Hawaiian Bank now owns 378 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 153 shares during the period. Ellis Investment Partners LLC acquired a new position in Balchem in the 1st quarter worth $49,000. Private Capital Group LLC boosted its stake in Balchem by 116.7% in the 1st quarter. Private Capital Group LLC now owns 572 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 308 shares during the period. Finally, Krane Funds Advisors LLC acquired a new position in Balchem in the 2nd quarter worth $60,000. 86.98% of the stock is owned by institutional investors.

BCPC stock traded down $1.44 during trading on Wednesday, hitting $88.56. The company had a trading volume of 1,157 shares, compared to its average volume of 115,764. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.63 and a current ratio of 3.73. The company has a 50-day simple moving average of $96.28. Balchem has a 12 month low of $73.16 and a 12 month high of $117.79. The company has a market cap of $2.83 billion, a PE ratio of 29.59 and a beta of 1.12.

Balchem (NASDAQ:BCPC) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.77 earnings per share for the quarter, topping 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 firm had revenue of $161.60 million during the quarter, compared to analysts’ expectations of $163.14 million. During the same quarter in the previous year, the company posted $0.76 EPS. Balchem’s revenue was down 1.3% on a year-over-year basis. Equities research analysts predict that Balchem will post 2.96 earnings per share for the current fiscal year.

BCPC has been the topic of a number of recent research reports. BidaskClub downgraded Balchem from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Pivotal Research downgraded Balchem from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Monday, May 6th. Zacks Investment Research cut shares of Balchem from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Finally, HC Wainwright restated a “buy” rating and issued a $95.00 price objective (down previously from $110.00) on shares of Balchem in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $108.75.

About Balchem

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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