Principal Financial Group Inc. lowered its holdings in Balchem Co. (NASDAQ:BCPC) by 0.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 227,440 shares of the basic materials company’s stock after selling 2,105 shares during the quarter. Principal Financial Group Inc.’s holdings in Balchem were worth $32,994,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BCPC. Northwestern Mutual Wealth Management Co. lifted its position in shares of Balchem by 14.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the basic materials company’s stock worth $87,000 after buying an additional 83 shares during the period. Wendell David Associates Inc. raised its position in Balchem by 0.4% in the 3rd quarter. Wendell David Associates Inc. now owns 26,727 shares of the basic materials company’s stock valued at $3,877,000 after purchasing an additional 100 shares during the last quarter. Profund Advisors LLC raised its position in Balchem by 3.2% in the 2nd quarter. Profund Advisors LLC now owns 3,532 shares of the basic materials company’s stock valued at $463,000 after purchasing an additional 108 shares during the last quarter. Cutter & CO Brokerage Inc. raised its position in Balchem by 0.4% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 33,152 shares of the basic materials company’s stock valued at $4,809,000 after purchasing an additional 125 shares during the last quarter. Finally, Signaturefd LLC raised its position in Balchem by 150.6% in the 3rd quarter. Signaturefd LLC now owns 208 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 125 shares during the last quarter. 88.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Balchem stock opened at $155.52 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.86 and a debt-to-equity ratio of 0.14. Balchem Co. has a 12 month low of $106.29 and a 12 month high of $174.29. The business has a fifty day simple moving average of $164.51 and a 200 day simple moving average of $148.65. The stock has a market cap of $5.04 billion, a PE ratio of 54.19 and a beta of 0.56.
Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Thursday, October 28th. The basic materials company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Balchem had a return on equity of 13.46% and a net margin of 12.17%. The business had revenue of $197.87 million during the quarter, compared to analysts’ expectations of $204.80 million. During the same period in the previous year, the firm earned $0.83 earnings per share. Analysts expect that Balchem Co. will post 2.93 EPS for the current fiscal year.
The firm also recently announced an annual dividend, which will be paid on Friday, January 21st. Shareholders of record on Tuesday, December 28th will be paid a $0.64 dividend. This represents a yield of 0.4%. This is a boost from Balchem’s previous annual dividend of $0.58. The ex-dividend date is Monday, December 27th. Balchem’s payout ratio is presently 22.30%.
A number of equities research analysts have recently weighed in on the company. Sidoti downgraded Balchem from a “buy” rating to a “neutral” rating and set a $175.00 target price for the company. in a research report on Monday, November 29th. HC Wainwright boosted their target price on Balchem from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 10th. Finally, Zacks Investment Research downgraded Balchem from a “buy” rating to a “hold” rating in a research report on Tuesday, November 2nd.
Balchem Company Profile
Balchem Corp. provides marketing of specialty performance ingredients and products. It operates through the following segments: Human Nutrition and Health, Animal Nutrition and Health, Specialty Products and Industrial Products. The Human Nutrition and Health segment supplies ingredients in the food and beverage industry, providing customized solutions in powder, solid and liquid flavor delivery systems, spray dried emulsified powder systems, and cereal systems.
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