Park Avenue Securities LLC Cuts Position in Balchem Co. (NASDAQ:BCPC)

Park Avenue Securities LLC cut its holdings in shares of Balchem Co. (NASDAQ:BCPC) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,814 shares of the basic materials company’s stock after selling 124 shares during the quarter. Park Avenue Securities LLC’s holdings in Balchem were worth $495,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BCPC. Bessemer Group Inc. raised its position in Balchem by 568.9% in the first quarter. Bessemer Group Inc. now owns 301 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 256 shares during the period. GAMMA Investing LLC lifted its stake in Balchem by 18.0% in the first quarter. GAMMA Investing LLC now owns 473 shares of the basic materials company’s stock valued at $73,000 after purchasing an additional 72 shares during the last quarter. TD Asset Management Inc bought a new position in Balchem during the second quarter valued at $200,000. Heritage Family Offices LLP bought a new position in Balchem during the second quarter valued at $206,000. Finally, Sage Rhino Capital LLC purchased a new stake in Balchem in the second quarter worth $207,000. 87.91% of the stock is owned by hedge funds and other institutional investors.

Balchem Stock Up 1.2 %

Balchem stock opened at $172.21 on Friday. The firm has a 50 day simple moving average of $170.67 and a 200 day simple moving average of $161.04. 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 Co. has a 1-year low of $110.74 and a 1-year high of $186.03. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 47.97, a P/E/G ratio of 5.43 and a beta of 0.65.

Balchem (NASDAQ:BCPC) last announced its quarterly earnings results on Friday, July 26th. The basic materials company reported $0.98 earnings per share 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 analysts’ expectations of $241.26 million. Balchem had a return on equity of 10.94% and a net margin of 12.52%. On average, analysts predict that Balchem Co. will post 3.96 earnings per share for the current year.

Insider Activity

In other 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 shares were sold at an average price of $180.05, for a total value of $1,395,387.50. Following the completion of the transaction, the senior vice president now directly owns 8,540 shares in the company, valued at approximately $1,537,627. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. HC Wainwright upped their price target on Balchem from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Balchem from a “buy” rating to a “hold” rating in a report on Monday, July 29th.

Balchem Company 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.