Maryland State Retirement & Pension System Cuts Stock Holdings in Balchem Co. (NASDAQ:BCPC)

Maryland State Retirement & Pension System lessened its stake in shares of Balchem Co. (NASDAQ:BCPC) by 1.3% in the 4th quarter, Holdings Channel reports. The firm owned 11,718 shares of the basic materials company’s stock after selling 157 shares during the period. Maryland State Retirement & Pension System’s holdings in Balchem were worth $1,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BCPC. Private Advisor Group LLC bought a new stake in Balchem during the fourth quarter worth approximately $209,000. Natixis Advisors L.P. raised its holdings in Balchem by 5.0% during the 4th quarter. Natixis Advisors L.P. now owns 17,966 shares of the basic materials company’s stock valued at $2,672,000 after buying an additional 852 shares during the period. Benjamin Edwards Inc. lifted its position in Balchem by 14.5% in the fourth quarter. Benjamin Edwards Inc. now owns 1,534 shares of the basic materials company’s stock worth $228,000 after buying an additional 194 shares during the last quarter. Heritage Wealth Management LLC purchased a new position in Balchem during the fourth quarter worth $226,000. Finally, Mission Wealth Management LP bought a new position in Balchem during the fourth quarter valued at $223,000. Hedge funds and other institutional investors own 87.91% of the company’s stock.

Balchem Stock Down 0.8 %

Shares of BCPC stock traded down $1.29 during mid-day trading on Wednesday, hitting $154.19. The stock had a trading volume of 3,503 shares, compared to its average volume of 103,929. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.61 and a quick ratio of 1.72. The firm has a market capitalization of $5.00 billion, a P/E ratio of 43.92, a price-to-earnings-growth ratio of 3.33 and a beta of 0.72. The firm’s 50-day moving average is $151.00 and its two-hundred day moving average is $141.21. Balchem Co. has a 12-month low of $110.74 and a 12-month high of $159.52.

Balchem (NASDAQ:BCPC) last issued its quarterly earnings data on Friday, February 16th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $228.70 million during the quarter, compared to the consensus estimate of $234.66 million. Balchem had a net margin of 12.35% and a return on equity of 11.03%. Balchem’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, analysts predict that Balchem Co. will post 4.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BCPC. StockNews.com lowered Balchem from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. HC Wainwright boosted their price objective on shares of Balchem from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Monday.

Insider Buying and Selling

In other Balchem news, SVP Michael Robert Sestrick sold 11,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $153.21, for a total transaction of $1,700,631.00. Following the completion of the transaction, the senior vice president now directly owns 6,736 shares of the company’s stock, valued at approximately $1,032,022.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Michael Robert Sestrick sold 11,100 shares of Balchem stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $153.21, for a total transaction of $1,700,631.00. Following the completion of the transaction, the senior vice president now directly owns 6,736 shares in the company, valued at $1,032,022.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO William A. Backus sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $155.19, for a total value of $1,086,330.00. Following the completion of the sale, the chief accounting officer now owns 5,914 shares in the company, valued at approximately $917,793.66. The disclosure for this sale can be found here. Insiders sold 76,630 shares of company stock worth $11,843,249 in the last 90 days. Insiders own 1.77% of the company’s stock.

Balchem Profile

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 worldwide. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.