Envestnet Asset Management Inc. Sells 29,792 Shares of Balchem Corporation (NASDAQ:BCPC)

Envestnet Asset Management Inc. reduced its stake in Balchem Corporation (NASDAQ:BCPC) by 25.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,571 shares of the basic materials company’s stock after selling 29,792 shares during the quarter. Envestnet Asset Management Inc. owned about 0.27% of Balchem worth $14,703,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BCPC. Quadrant Capital Group LLC increased its stake in Balchem by 8.2% in the 4th quarter. Quadrant Capital Group LLC now owns 989 shares of the basic materials company’s stock valued at $161,000 after buying an additional 75 shares during the last quarter. Covestor Ltd boosted its stake in Balchem by 93.8% in the fourth quarter. Covestor Ltd now owns 157 shares of the basic materials company’s stock worth $26,000 after buying an additional 76 shares in the last quarter. Vident Advisory LLC boosted its position in Balchem by 6.0% during the fourth quarter. Vident Advisory LLC now owns 1,421 shares of the basic materials company’s stock valued at $232,000 after buying an additional 80 shares during the period. Heritage Family Offices LLP lifted 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 grew its stake in shares of Balchem by 2.2% in the fourth quarter. Mackenzie Financial Corp now owns 3,840 shares of the basic materials company’s stock worth $626,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.

Analyst Upgrades and Downgrades

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

Balchem Trading Down 3.5%

Shares of BCPC stock opened at $152.84 on Friday. 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 52-week low of $145.70 and a 52-week high of $186.03. The stock has a fifty day simple moving average of $163.15 and a two-hundred day simple moving average of $162.65. The firm has a market capitalization of $4.99 billion, a PE ratio of 36.65, a PEG ratio of 3.42 and a beta of 0.89.

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

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.