ProShare Advisors LLC Reduces Holdings in Balchem Co. (NASDAQ:BCPC)

ProShare Advisors LLC lessened its stake in Balchem Co. (NASDAQ:BCPC) by 16.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 45,033 shares of the basic materials company’s stock after selling 8,804 shares during the period. ProShare Advisors LLC owned about 0.14% of Balchem worth $6,933,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Balchem by 3.8% during the first quarter. Vanguard Group Inc. now owns 3,935,935 shares of the basic materials company’s stock worth $609,873,000 after acquiring an additional 144,423 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Balchem by 2.7% during 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 buying an additional 29,825 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Balchem by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 697,461 shares of the basic materials company’s stock valued at $107,372,000 after purchasing an additional 5,977 shares in the last quarter. Norges Bank purchased a new stake in Balchem in the 4th quarter valued at approximately $52,233,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Balchem by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 277,475 shares of the basic materials company’s stock valued at $42,717,000 after acquiring an additional 3,279 shares during the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.

Balchem Trading Down 0.1 %

NASDAQ BCPC opened at $175.41 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.83. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 49.55, a PEG ratio of 5.18 and a beta of 0.65. The company’s 50 day moving average price is $171.62 and its 200 day moving average price is $159.57. Balchem Co. has a one year low of $110.74 and a one year high of $186.03.

Balchem (NASDAQ:BCPC) last issued its quarterly earnings data on Friday, July 26th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03. The company had revenue of $234.08 million during the quarter, compared to the consensus estimate of $241.26 million. Balchem had a net margin of 12.52% and a return on equity of 10.94%. On average, sell-side analysts predict that Balchem Co. will post 3.96 EPS for the current year.

Insider Activity

In other Balchem news, SVP Gunsteren Job Leonard Van sold 7,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $180.05, for a total transaction of $1,395,387.50. Following the completion of the sale, the senior vice president now owns 8,540 shares in the company, valued at approximately $1,537,627. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. HC Wainwright increased their target price on Balchem from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut Balchem from a “buy” rating to a “hold” rating in a report on Monday, July 29th.

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.