Public Sector Pension Investment Board Acquires 22,090 Shares of Balchem Corporation (NASDAQ:BCPC)

Public Sector Pension Investment Board lifted its holdings in shares of Balchem Corporation (NASDAQ:BCPC) by 27.3% during the 1st quarter, Holdings Channel reports. The firm owned 103,100 shares of the basic materials company’s stock after purchasing an additional 22,090 shares during the period. Public Sector Pension Investment Board’s holdings in Balchem were worth $17,115,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd increased its holdings in shares of Balchem by 93.8% during the fourth quarter. Covestor Ltd now owns 157 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 76 shares during the period. Federated Hermes Inc. bought a new position in shares of Balchem during the fourth quarter worth approximately $33,000. Versant Capital Management Inc increased its holdings in shares of Balchem by 534.2% during the first quarter. Versant Capital Management Inc now owns 241 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 203 shares during the period. CWM LLC increased its holdings in shares of Balchem by 34.0% during the first quarter. CWM LLC now owns 520 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 132 shares during the period. Finally, Archer Investment Corp increased its holdings in shares of Balchem by 81.7% during the first quarter. Archer Investment Corp now owns 1,001 shares of the basic materials company’s stock worth $166,000 after purchasing an additional 450 shares during the period. 87.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wall Street Zen cut shares of Balchem from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. HC Wainwright reissued a “buy” rating and issued a $189.00 price objective (up from $180.00) on shares of Balchem in a research note on Monday, August 4th.

Balchem Stock Performance

Shares of NASDAQ:BCPC opened at $158.88 on Tuesday. The company’s 50 day simple moving average is $159.03 and its 200 day simple moving average is $162.12. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 3.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.64 and a quick ratio of 1.57. Balchem Corporation has a 1 year low of $145.70 and a 1 year high of $185.96.

Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $255.47 million for the quarter, compared to analysts’ expectations of $250.31 million. Balchem had a net margin of 14.48% and a return on equity of 12.41%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. As a group, research analysts predict that Balchem Corporation will post 4.64 EPS for the current fiscal year.

Balchem Company 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.