Balchem Co. (NASDAQ:BCPC) Stake Increased by Congress Asset Management Co. MA

Congress Asset Management Co. MA boosted its holdings in Balchem Co. (NASDAQ:BCPCFree Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,657 shares of the basic materials company’s stock after purchasing an additional 14,354 shares during the quarter. Congress Asset Management Co. MA owned approximately 0.74% of Balchem worth $35,649,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in Balchem by 543.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,676 shares of the basic materials company’s stock worth $2,034,000 after purchasing an additional 11,551 shares during the period. CIBC Asset Management Inc acquired a new position in Balchem in the fourth quarter worth $289,000. APG Asset Management US Inc. acquired a new position in Balchem in the fourth quarter worth $39,164,000. Evoke Wealth LLC acquired a new position in Balchem in the fourth quarter worth $4,578,000. Finally, Congress Wealth Management LLC DE boosted its holdings in Balchem by 7.7% in the fourth quarter. Congress Wealth Management LLC DE now owns 40,777 shares of the basic materials company’s stock worth $6,066,000 after purchasing an additional 2,924 shares during the period. Institutional investors and hedge funds own 87.91% of the company’s stock.

Insider Activity at Balchem

In related news, Director David B. Fischer sold 5,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $152.98, for a total value of $764,900.00. Following the completion of the transaction, the director now owns 9,009 shares in the company, valued at approximately $1,378,196.82. The sale 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 1,929 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $154.45, for a total value of $297,934.05. Following the completion of the transaction, the senior vice president now owns 4,878 shares in the company, valued at approximately $753,407.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David B. Fischer sold 5,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $152.98, for a total transaction of $764,900.00. Following the completion of the transaction, the director now owns 9,009 shares of the company’s stock, valued at approximately $1,378,196.82. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by insiders.

Balchem Stock Performance

Shares of BCPC traded down $1.62 during midday trading on Friday, hitting $150.69. 77,832 shares of the stock traded hands, compared to its average volume of 80,912. Balchem Co. has a 1-year low of $110.74 and a 1-year high of $159.52. The firm has a market capitalization of $4.89 billion, a PE ratio of 42.57, a price-to-earnings-growth ratio of 3.55 and a beta of 0.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.72 and a current ratio of 2.61. The business’s 50 day moving average price is $150.31 and its two-hundred day moving average price is $147.53.

Balchem (NASDAQ:BCPCGet Free Report) last announced its quarterly earnings results on Friday, May 3rd. The basic materials company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.05). Balchem had a net margin of 12.35% and a return on equity of 11.03%. The firm had revenue of $239.66 million for the quarter, compared to analyst estimates of $234.12 million. Equities research analysts predict that Balchem Co. will post 3.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com raised shares of Balchem from a “hold” rating to a “buy” rating in a report on Friday, May 10th. HC Wainwright boosted their price target on shares of Balchem from $167.00 to $170.00 and gave the company a “buy” rating in a report on Monday, May 6th.

Check Out Our Latest Research Report on BCPC

About Balchem

(Free Report)

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.

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Institutional Ownership by Quarter for Balchem (NASDAQ:BCPC)

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