GW&K Investment Management LLC boosted its stake in shares of Balchem Co. (NASDAQ:BCPC) by 15.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 391,005 shares of the basic materials company’s stock after buying an additional 53,468 shares during the quarter. GW&K Investment Management LLC owned approximately 1.21% of Balchem worth $38,783,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. grew its position in Balchem by 1.0% during the second quarter. BlackRock Inc. now owns 4,712,524 shares of the basic materials company’s stock valued at $471,110,000 after buying an additional 47,908 shares during the period. Wasatch Advisors Inc. grew its position in Balchem by 6.0% during the second quarter. Wasatch Advisors Inc. now owns 1,306,898 shares of the basic materials company’s stock valued at $130,651,000 after buying an additional 74,061 shares during the period. Conestoga Capital Advisors LLC grew its position in Balchem by 2.6% during the second quarter. Conestoga Capital Advisors LLC now owns 822,800 shares of the basic materials company’s stock valued at $82,255,000 after buying an additional 20,812 shares during the period. Northern Trust Corp grew its position in Balchem by 1.0% during the second quarter. Northern Trust Corp now owns 478,505 shares of the basic materials company’s stock valued at $47,837,000 after buying an additional 4,940 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Balchem by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 433,039 shares of the basic materials company’s stock valued at $43,290,000 after buying an additional 3,229 shares during the period. Institutional investors own 86.33% of the company’s stock.
In other Balchem news, VP David F. Ludwig sold 12,750 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $90.00, for a total transaction of $1,147,500.00. Following the transaction, the vice president now directly owns 21,038 shares in the company, valued at $1,893,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.28% of the stock is owned by company insiders.
Balchem (NASDAQ:BCPC) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Balchem had a net margin of 12.43% and a return on equity of 14.01%. The business had revenue of $158.60 million for the quarter, compared to analysts’ expectations of $166.42 million. During the same period last year, the business earned $0.73 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts expect that Balchem Co. will post 3.06 EPS for the current year.
BCPC has been the subject of several research reports. HC Wainwright restated a “positive” rating and set a $110.00 price target (up previously from $95.00) on shares of Balchem in a research report on Wednesday. Zacks Investment Research lowered shares of Balchem from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, BidaskClub downgraded shares of Balchem from a “buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $107.67.
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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