Bank of New York Mellon Corp Sells 6,521 Shares of Balchem Corporation (NASDAQ:BCPC)

Bank of New York Mellon Corp cut its position in Balchem Corporation (NASDAQ:BCPC) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 237,106 shares of the basic materials company’s stock after selling 6,521 shares during the quarter. Bank of New York Mellon Corp owned 0.73% of Balchem worth $39,360,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in Balchem by 8.2% in the fourth quarter. Quadrant Capital Group LLC now owns 989 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 75 shares during the last quarter. Covestor Ltd raised its position in Balchem by 93.8% in the fourth quarter. Covestor Ltd now owns 157 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 76 shares during the last quarter. Vident Advisory LLC raised its position in Balchem by 6.0% in the fourth quarter. Vident Advisory LLC now owns 1,421 shares of the basic materials company’s stock valued at $232,000 after purchasing an additional 80 shares during the last quarter. Heritage Family Offices LLP raised its position in Balchem by 5.9% in the first quarter. Heritage Family Offices LLP now owns 1,504 shares of the basic materials company’s stock valued at $250,000 after purchasing an additional 84 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Balchem by 2.2% in the fourth quarter. Mackenzie Financial Corp now owns 3,840 shares of the basic materials company’s stock valued at $626,000 after purchasing an additional 84 shares during the last quarter. 87.91% of the stock is currently owned by institutional investors.

Balchem Trading Up 0.4%

Shares of BCPC stock opened at $159.05 on Tuesday. The company has a market cap of $5.19 billion, a P/E ratio of 38.14, a PEG ratio of 3.42 and a beta of 0.89. The stock has a 50 day simple moving average of $163.82 and a two-hundred day simple moving average of $162.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.40 and a current ratio of 2.44. Balchem Corporation has a fifty-two week low of $145.70 and a fifty-two week high of $186.03.

Balchem (NASDAQ:BCPC) last issued its earnings results on Thursday, April 24th. The basic materials company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.03). The business had revenue of $250.52 million during the quarter, compared to the consensus estimate of $245.70 million. Balchem had a return on equity of 12.01% and a net margin of 14.16%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Research analysts forecast that Balchem Corporation will post 4.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BCPC shares. HC Wainwright set a $180.00 price objective on Balchem and gave the stock a “buy” rating in a research report on Monday, April 28th. Wall Street Zen downgraded Balchem from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st.

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.