Balchem Co. (NASDAQ:BCPC) Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC grew its position in Balchem Co. (NASDAQ:BCPC) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,998 shares of the basic materials company’s stock after purchasing an additional 198 shares during the quarter. Portside Wealth Group LLC’s holdings in Balchem were worth $332,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Congress Asset Management Co. raised its holdings in shares of Balchem by 12.9% in the 1st quarter. Congress Asset Management Co. now owns 358,500 shares of the basic materials company’s stock valued at $59,511,000 after purchasing an additional 40,890 shares in the last quarter. Vest Financial LLC acquired a new stake in shares of Balchem in the 1st quarter valued at $833,000. Annex Advisory Services LLC raised its holdings in shares of Balchem by 17.5% in the 1st quarter. Annex Advisory Services LLC now owns 8,806 shares of the basic materials company’s stock valued at $1,462,000 after purchasing an additional 1,310 shares in the last quarter. Heritage Family Offices LLP raised its holdings in shares of Balchem by 5.9% in the 1st quarter. Heritage Family Offices LLP now owns 1,504 shares of the basic materials company’s stock valued at $250,000 after purchasing an additional 84 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Balchem by 0.4% in the 1st quarter. Rhumbline Advisers now owns 87,563 shares of the basic materials company’s stock valued at $14,535,000 after purchasing an additional 314 shares in the last quarter. 87.91% of the stock is currently owned by institutional investors and hedge funds.

Balchem Trading Down 0.3%

Shares of Balchem stock opened at $167.64 on Wednesday. Balchem Co. has a 1 year low of $145.70 and a 1 year high of $186.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.16 and a current ratio of 1.99. The company has a market capitalization of $5.47 billion, a P/E ratio of 42.66, a PEG ratio of 4.41 and a beta of 0.91. The company’s fifty day moving average is $162.32 and its two-hundred day moving average is $165.16.

Balchem (NASDAQ:BCPC) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.03). Balchem had a return on equity of 11.37% and a net margin of 13.47%. The business had revenue of $250.52 million for the quarter, compared to analysts’ expectations of $245.70 million. During the same period in the previous year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts forecast that Balchem Co. will post 4.64 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BCPC. Sidoti upgraded shares of Balchem to a “hold” rating in a report on Tuesday, February 25th. Wall Street Zen lowered shares of Balchem from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Finally, HC Wainwright set a $180.00 price target on shares of Balchem and gave the stock a “buy” rating in a research note on Monday, April 28th.

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.