Edgestream Partners L.P. Sells 8,139 Shares of Balchem Co. (NASDAQ:BCPC)

Edgestream Partners L.P. cut its holdings in shares of Balchem Co. (NASDAQ:BCPC) by 47.2% during the third quarter, Holdings Channel reports. The fund owned 9,109 shares of the basic materials company’s stock after selling 8,139 shares during the period. Edgestream Partners L.P.’s holdings in Balchem were worth $1,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tidal Investments LLC bought a new stake in shares of Balchem during the first quarter worth $265,000. Cetera Advisors LLC bought a new stake in Balchem during the 1st quarter worth about $321,000. OLD National Bancorp IN acquired a new stake in Balchem in the 2nd quarter valued at about $234,000. Annex Advisory Services LLC raised its stake in shares of Balchem by 8.9% in the second quarter. Annex Advisory Services LLC now owns 4,319 shares of the basic materials company’s stock worth $665,000 after acquiring an additional 352 shares during the last quarter. Finally, Cardinal Capital Management lifted its position in shares of Balchem by 2.6% during the second quarter. Cardinal Capital Management now owns 22,561 shares of the basic materials company’s stock worth $3,473,000 after purchasing an additional 562 shares in the last quarter. 87.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Balchem Stock Performance

Balchem stock opened at $177.99 on Wednesday. The company has a current ratio of 2.98, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.79 billion, a PE ratio of 47.85, a PEG ratio of 5.41 and a beta of 0.67. The company’s 50-day moving average is $174.61 and its two-hundred day moving average is $167.93. Balchem Co. has a 1 year low of $124.34 and a 1 year high of $186.03.

Balchem 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.