Congress Wealth Management LLC DE Boosts Position in Balchem Co. (NASDAQ:BCPC)

Congress Wealth Management LLC DE lifted its stake in shares of Balchem Co. (NASDAQ:BCPC) by 6.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,287 shares of the basic materials company’s stock after acquiring an additional 2,510 shares during the period. Congress Wealth Management LLC DE’s holdings in Balchem were worth $6,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of BCPC. Norges Bank purchased a new position in shares of Balchem during the 4th quarter worth $52,233,000. APG Asset Management US Inc. purchased a new position in shares of Balchem during the 4th quarter worth $39,164,000. Corient Private Wealth LLC increased its position in shares of Balchem by 4,678.4% during the 4th quarter. Corient Private Wealth LLC now owns 262,671 shares of the basic materials company’s stock worth $39,072,000 after purchasing an additional 257,174 shares during the last quarter. Comerica Bank acquired a new stake in shares of Balchem during the 3rd quarter worth about $11,750,000. Finally, Ameriprise Financial Inc. increased its position in shares of Balchem by 9.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 402,621 shares of the basic materials company’s stock worth $49,941,000 after purchasing an additional 36,011 shares during the last quarter. Hedge funds and other institutional investors own 87.91% of the company’s stock.

Balchem Trading Up 0.1 %

Shares of NASDAQ:BCPC traded up $0.15 during midday trading on Monday, reaching $154.10. 155,719 shares of the company’s stock were exchanged, compared to its average volume of 102,977. The firm’s 50 day simple moving average is $151.42 and its two-hundred day simple moving average is $149.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.61 and a quick ratio of 1.72. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 43.53, a P/E/G ratio of 3.63 and a beta of 0.68. Balchem Co. has a fifty-two week low of $110.74 and a fifty-two week high of $159.52.

Balchem (NASDAQ:BCPC) last released its earnings results on Friday, May 3rd. The basic materials company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.05). The firm had revenue of $239.66 million during the quarter, compared to analyst estimates of $234.12 million. Balchem had a net margin of 12.35% and a return on equity of 11.03%. As a group, sell-side analysts forecast that Balchem Co. will post 3.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BCPC shares. StockNews.com raised Balchem from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. HC Wainwright raised their price objective on Balchem from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, May 6th.

Insider Buying and Selling at Balchem

In other Balchem news, SVP Michael Robert Sestrick sold 1,929 shares of Balchem stock in a transaction dated Friday, May 10th. The stock was 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 directly owns 4,878 shares of the company’s stock, valued at approximately $753,407.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director David B. Fischer sold 5,000 shares of Balchem stock in a transaction dated Wednesday, May 8th. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael Robert Sestrick sold 1,929 shares of Balchem 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 of the company’s stock, valued at approximately $753,407.10. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by corporate insiders.

About Balchem

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.