Allspring Global Investments Holdings LLC Decreases Holdings in Balchem Co. (NASDAQ:BCPC)

Allspring Global Investments Holdings LLC lowered its stake in shares of Balchem Co. (NASDAQ:BCPC) by 8.0% in the fourth quarter, Holdings Channel reports. The firm owned 81,668 shares of the basic materials company’s stock after selling 7,148 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Balchem were worth $12,148,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Operose Advisors LLC purchased a new stake in Balchem during the 3rd quarter worth approximately $31,000. Quantbot Technologies LP acquired a new stake in shares of Balchem in the first quarter worth approximately $34,000. Gyon Technologies Capital Management LP purchased a new stake in shares of Balchem during the fourth quarter worth approximately $56,000. Point72 Hong Kong Ltd purchased a new position in Balchem in the 1st quarter valued at $67,000. Finally, Point72 Middle East FZE acquired a new stake in Balchem during the 4th quarter worth $84,000. Institutional investors and hedge funds own 87.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Balchem from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st.

Insiders Place Their Bets

In other news, SVP Michael Robert Sestrick sold 11,100 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $153.21, for a total value of $1,700,631.00. Following the completion of the sale, the senior vice president now owns 6,736 shares of the company’s stock, valued at approximately $1,032,022.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO William A. Backus sold 9,180 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $156.37, for a total transaction of $1,435,476.60. Following the completion of the sale, the chief accounting officer now directly owns 12,914 shares of the company’s stock, valued at approximately $2,019,362.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael Robert Sestrick sold 11,100 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $153.21, for a total transaction of $1,700,631.00. Following the completion of the transaction, the senior vice president now directly owns 6,736 shares in the company, valued at approximately $1,032,022.56. The disclosure for this sale can be found here. Insiders have sold 76,630 shares of company stock valued at $11,843,249 over the last ninety days. Company insiders own 1.77% of the company’s stock.

Balchem Price Performance

NASDAQ:BCPC opened at $146.76 on Tuesday. The stock has a 50 day moving average price of $152.31 and a 200 day moving average price of $139.01. The stock has a market cap of $4.74 billion, a PE ratio of 43.81, a P/E/G ratio of 4.47 and a beta of 0.71. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.38 and a current ratio of 2.12. Balchem Co. has a one year low of $110.74 and a one year high of $159.52.

Balchem (NASDAQ:BCPC) last posted its quarterly earnings results on Friday, February 16th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. The business had revenue of $228.70 million for the quarter, compared to analyst estimates of $234.66 million. Balchem had a return on equity of 10.69% and a net margin of 11.77%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. Equities research analysts expect that Balchem Co. will post 4.14 EPS for the current fiscal year.

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.