Balchem (NASDAQ:BCPC) Shares Down 84.3% – Here’s Why

Balchem Co. (NASDAQ:BCPC)’s share price dropped 84.3% during mid-day trading on Thursday . The company traded as low as $159.07 and last traded at $24.84. Approximately 43,232 shares were traded during trading, a decline of 65% from the average daily volume of 122,315 shares. The stock had previously closed at $158.46.

Analyst Ratings Changes

BCPC has been the subject of several research analyst reports. HC Wainwright raised their target price on shares of Balchem from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com raised Balchem from a “hold” rating to a “buy” rating in a research report on Monday, October 28th.

Balchem Stock Performance

The firm has a market cap of $5.20 billion, a P/E ratio of 43.00, a P/E/G ratio of 4.26 and a beta of 0.69. The company has a quick ratio of 1.90, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $167.00 and a 200-day simple moving average of $170.65.

Balchem Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 17th. Investors of record on Thursday, December 26th were given a dividend of $0.87 per share. This is a boost from Balchem’s previous annual dividend of $0.79. This represents a yield of 0.4%. The ex-dividend date of this dividend was Thursday, December 26th. Balchem’s dividend payout ratio (DPR) is 23.39%.

Institutional Trading of Balchem

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Westside Investment Management Inc. purchased a new position in Balchem in the third quarter worth about $27,000. R Squared Ltd purchased a new position in Balchem in the 4th quarter worth approximately $29,000. nVerses Capital LLC bought a new position in Balchem in the 3rd quarter valued at approximately $35,000. Wilmington Savings Fund Society FSB purchased a new stake in Balchem during the 3rd quarter valued at $35,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Balchem in the 4th quarter worth $95,000. Hedge funds and other institutional investors own 87.91% of the company’s stock.

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.