ICW Investment Advisors LLC grew its holdings in Balchem Co. (NASDAQ:BCPC) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,908 shares of the basic materials company’s stock after acquiring an additional 675 shares during the period. ICW Investment Advisors LLC’s holdings in Balchem were worth $978,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Archer Investment Corp acquired a new position in shares of Balchem in the 4th quarter valued at $33,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Balchem by 83.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 484 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 220 shares during the period. Carolina Wealth Advisors LLC acquired a new position in shares of Balchem in the 4th quarter valued at $56,000. Private Capital Group LLC lifted its stake in shares of Balchem by 22.3% in the 1st quarter. Private Capital Group LLC now owns 779 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 142 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Balchem in the 4th quarter valued at $91,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the stock. BidaskClub upgraded shares of Balchem from a “sell” rating to a “hold” rating in a research report on Friday, May 22nd. HC Wainwright reduced their price objective on shares of Balchem from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, May 4th. ValuEngine upgraded shares of Balchem from a “sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Zacks Investment Research cut shares of Balchem from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, TheStreet cut shares of Balchem from a “b” rating to a “c+” rating in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $100.00.
Shares of NASDAQ BCPC traded up $0.19 during mid-day trading on Monday, reaching $100.84. The company’s stock had a trading volume of 1,238 shares, compared to its average volume of 188,982. The stock has a 50-day moving average of $92.19 and a two-hundred day moving average of $99.40. The stock has a market capitalization of $3.25 billion, a P/E ratio of 40.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.61 and a current ratio of 3.77. Balchem Co. has a 1-year low of $78.30 and a 1-year high of $113.93.
Balchem (NASDAQ:BCPC) last issued its earnings results on Friday, May 1st. The basic materials company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.22. The business had revenue of $174.44 million during the quarter, compared to analysts’ expectations of $169.87 million. Balchem had a net margin of 12.20% and a return on equity of 14.30%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. Analysts predict that Balchem Co. will post 2.58 EPS for the current fiscal year.
Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization, and industrial markets in the United States and internationally. The company's Human Nutrition & Health segment supplies ingredients in the food and beverage industry.
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