Balchem (NASDAQ:BCPC) Releases Quarterly Earnings Results, Meets Expectations

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

Balchem Price Performance

Shares of NASDAQ BCPC opened at $171.46 on Monday. Balchem has a fifty-two week low of $110.74 and a fifty-two week high of $186.03. The business has a 50 day moving average price of $171.68 and a two-hundred day moving average price of $162.40. The company has a quick ratio of 1.79, a current ratio of 2.83 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.56 billion, a PE ratio of 48.44, a price-to-earnings-growth ratio of 5.43 and a beta of 0.65.

Insider Transactions at Balchem

In other news, SVP Gunsteren Job Leonard Van sold 7,750 shares of Balchem stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $180.05, for a total value of $1,395,387.50. Following the completion of the transaction, the senior vice president now owns 8,540 shares in the company, valued at approximately $1,537,627. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BCPC. Vanguard Group Inc. lifted its holdings 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 worth $609,873,000 after purchasing an additional 144,423 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Balchem by 32.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 193,146 shares of the basic materials company’s stock worth $29,929,000 after purchasing an additional 47,036 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Balchem by 2.7% in 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 purchasing an additional 29,825 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new stake in shares of Balchem in the 3rd quarter worth approximately $3,639,000. Finally, William Blair Investment Management LLC raised its stake 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 valued at $35,998,000 after acquiring an additional 18,104 shares in the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.

Wall Street Analysts Forecast Growth

BCPC has been the topic of several analyst reports. StockNews.com downgraded Balchem from a “buy” rating to a “hold” rating in a report on Monday, July 29th. HC Wainwright raised their price objective on Balchem from $170.00 to $185.00 and gave the company a “buy” rating in a research note 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.