Balchem (NASDAQ:BCPC) Upgraded to “Hold” at Sidoti

Sidoti upgraded shares of Balchem (NASDAQ:BCPC) to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other research analysts have also issued reports on the company. StockNews.com lowered Balchem from a “buy” rating to a “hold” rating in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $190.00 target price on shares of Balchem in a report on Monday.

Balchem Stock Performance

Shares of BCPC opened at $172.69 on Tuesday. Balchem has a 52-week low of $137.69 and a 52-week high of $186.03. The firm has a market capitalization of $5.61 billion, a PE ratio of 43.94, a P/E/G ratio of 4.41 and a beta of 0.69. The firm has a 50-day moving average price of $162.13 and a 200 day moving average price of $169.46. The company has a quick ratio of 1.16, a current ratio of 1.99 and a debt-to-equity ratio of 0.19.

Balchem (NASDAQ:BCPC) last posted its quarterly earnings data on Friday, February 21st. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.08). The company had revenue of $240.00 million during the quarter, compared to the consensus estimate of $239.96 million. Balchem had a net margin of 13.47% and a return on equity of 11.37%. On average, sell-side analysts anticipate that Balchem will post 4.64 earnings per share for the current fiscal year.

Balchem Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, January 17th. Investors of record on Thursday, December 26th were issued a $0.87 dividend. This represents a dividend yield of 0.4%. This is a boost from Balchem’s previous annual dividend of $0.79. The ex-dividend date was Thursday, December 26th. Balchem’s payout ratio is presently 22.14%.

Institutional Investors Weigh In On Balchem

Several hedge funds have recently modified their holdings of BCPC. Private Advisor Group LLC purchased a new stake in Balchem during the third quarter valued at about $220,000. First Trust Direct Indexing L.P. lifted its position in shares of Balchem by 12.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,589 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 177 shares in the last quarter. Congress Asset Management Co. lifted its position in shares of Balchem by 12.4% in the 3rd quarter. Congress Asset Management Co. now owns 301,440 shares of the basic materials company’s stock valued at $53,053,000 after acquiring an additional 33,373 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in Balchem by 1.8% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,175,569 shares of the basic materials company’s stock worth $206,900,000 after purchasing an additional 20,360 shares in the last quarter. Finally, QRG Capital Management Inc. raised its stake in Balchem by 16.3% during the 3rd quarter. QRG Capital Management Inc. now owns 5,186 shares of the basic materials company’s stock valued at $913,000 after purchasing an additional 728 shares during the period. 87.91% of the stock is owned by hedge funds and other institutional investors.

About Balchem

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.