Envestnet Asset Management Inc. Boosts Stake in Balchem Co. (NASDAQ:BCPC)

Envestnet Asset Management Inc. increased its stake in shares of Balchem Co. (NASDAQ:BCPC) by 9.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 114,253 shares of the basic materials company’s stock after purchasing an additional 10,285 shares during the period. Envestnet Asset Management Inc. owned approximately 0.35% of Balchem worth $17,589,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. boosted its position in shares of Balchem by 1.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,926 shares of the basic materials company’s stock worth $604,000 after purchasing an additional 59 shares during the period. GAMMA Investing LLC boosted its position in shares of Balchem by 18.0% during the 1st quarter. GAMMA Investing LLC now owns 473 shares of the basic materials company’s stock worth $73,000 after purchasing an additional 72 shares during the period. Pitcairn Co. boosted its position in shares of Balchem by 3.6% during the 1st quarter. Pitcairn Co. now owns 3,315 shares of the basic materials company’s stock worth $514,000 after purchasing an additional 115 shares during the period. Arizona State Retirement System boosted its position in shares of Balchem by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 9,034 shares of the basic materials company’s stock worth $1,391,000 after purchasing an additional 173 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Balchem by 2.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,278 shares of the basic materials company’s stock worth $1,120,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 87.91% of the company’s stock.

Balchem Price Performance

Shares of BCPC opened at $175.66 on Tuesday. Balchem Co. has a twelve month low of $110.74 and a twelve month high of $186.03. The firm’s fifty day simple moving average is $171.64 and its 200-day simple moving average is $159.44. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 5.18 and a beta of 0.65. The company has a current ratio of 2.83, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26.

Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Friday, July 26th. The basic materials company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. Balchem had a net margin of 12.52% and a return on equity of 10.94%. The business had revenue of $234.08 million for the quarter, compared to analyst estimates of $241.26 million. Equities analysts forecast that Balchem Co. will post 3.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BCPC has been the topic of a number of research reports. StockNews.com lowered shares of Balchem from a “buy” rating to a “hold” rating in a report on Monday, July 29th. HC Wainwright increased their target price on shares of Balchem from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st.

Insider Activity

In related news, SVP Gunsteren Job Leonard Van sold 7,750 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $180.05, for a total value of $1,395,387.50. Following the transaction, the senior vice president now directly owns 8,540 shares of the company’s stock, valued at approximately $1,537,627. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.25% of the company’s stock.

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.