Bank of New York Mellon Corp increased its stake in shares of Balchem Co. (NASDAQ:BCPC) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 432,497 shares of the basic materials company’s stock after acquiring an additional 15,559 shares during the quarter. Bank of New York Mellon Corp owned about 1.34% of Balchem worth $33,887,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Stephens Inc. AR lifted its holdings in Balchem by 5.9% during the fourth quarter. Stephens Inc. AR now owns 3,437 shares of the basic materials company’s stock worth $269,000 after buying an additional 192 shares during the period. State of Alaska Department of Revenue increased its holdings in Balchem by 2.0% in the 4th quarter. State of Alaska Department of Revenue now owns 10,784 shares of the basic materials company’s stock valued at $844,000 after purchasing an additional 210 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Balchem by 13.6% in the fourth quarter. Bank of Montreal Can now owns 1,926 shares of the basic materials company’s stock worth $151,000 after acquiring an additional 231 shares in the last quarter. Piedmont Investment Advisors Inc. grew its stake in shares of Balchem by 3.4% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 7,670 shares of the basic materials company’s stock worth $601,000 after acquiring an additional 250 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Balchem by 11.0% during the 4th quarter. Advisors Asset Management Inc. now owns 2,912 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 289 shares during the last quarter. 87.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BCPC traded down $0.70 during mid-day trading on Monday, hitting $97.18. The company’s stock had a trading volume of 87,063 shares, compared to its average volume of 122,391. The stock has a market capitalization of $3.13 billion, a P/E ratio of 32.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.76 and a quick ratio of 1.94. Balchem Co. has a fifty-two week low of $73.16 and a fifty-two week high of $117.79.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Balchem from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a report on Monday, February 11th. BidaskClub lowered shares of Balchem from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. HC Wainwright set a $101.00 price target on shares of Balchem and gave the company a “buy” rating in a report on Tuesday, February 5th. Finally, Seaport Global Securities assumed coverage on shares of Balchem in a research note on Thursday, February 21st. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $105.50.
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Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization, and industrial markets in the United States and internationally. The company's Human Nutrition & Health segment supplies ingredients in the food and beverage industry.
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