Balchem (NASDAQ:BCPC) Announces Quarterly Earnings Results

Balchem (NASDAQ:BCPC) released its earnings results on Friday. The basic materials company reported $1.03 EPS for the quarter, meeting the consensus estimate of $1.03, reports. Balchem had a net margin of 12.52% and a return on equity of 10.94%. The firm had revenue of $239.94 million for the quarter, compared to analyst estimates of $243.05 million.

Balchem Trading Up 3.2 %

BCPC opened at $171.46 on Friday. The company’s 50 day moving average is $171.68 and its 200-day moving average is $162.31. Balchem has a 1-year low of $110.74 and a 1-year high of $186.03. The company has a current ratio of 2.83, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.56 billion, a P/E ratio of 48.44, a PEG ratio of 5.43 and a beta of 0.65.

Insider Activity

In other news, SVP Gunsteren Job Leonard Van sold 7,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $180.05, for a total value of $1,395,387.50. Following the sale, the senior vice president now directly owns 8,540 shares in the company, valued at approximately $1,537,627. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Balchem

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Balchem by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 3,935,935 shares of the basic materials company’s stock valued at $609,873,000 after purchasing an additional 144,423 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in Balchem by 2.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,155,209 shares of the basic materials company’s stock worth $177,844,000 after buying an additional 29,825 shares during the period. Dimensional Fund Advisors LP boosted its position in Balchem by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 697,461 shares of the basic materials company’s stock worth $107,372,000 after buying an additional 5,977 shares during the period. Bank of New York Mellon Corp boosted its position in Balchem by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 277,475 shares of the basic materials company’s stock worth $42,717,000 after buying an additional 3,279 shares during the period. Finally, William Blair Investment Management LLC boosted its position in Balchem by 8.4% during the 2nd quarter. William Blair Investment Management LLC now owns 233,831 shares of the basic materials company’s stock worth $35,998,000 after buying an additional 18,104 shares during the period. 87.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BCPC has been the topic of several recent analyst reports. StockNews.com lowered shares of Balchem from a “buy” rating to a “hold” rating in a report on Monday, July 29th. HC Wainwright raised their target price on shares of Balchem from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, July 31st.

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.