PNC Financial Services Group Inc. Sells 68 Shares of Balchem Corporation (NASDAQ:BCPC)

PNC Financial Services Group Inc. lessened its position in shares of Balchem Corporation (NASDAQ:BCPC) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,835 shares of the basic materials company’s stock after selling 68 shares during the period. PNC Financial Services Group Inc.’s holdings in Balchem were worth $969,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Covestor Ltd boosted its stake in shares of 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 buying an additional 76 shares during the period. Federated Hermes Inc. bought a new stake in shares of Balchem in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc boosted its stake in shares of Balchem by 534.2% in the first quarter. Versant Capital Management Inc now owns 241 shares of the basic materials company’s stock valued at $40,000 after buying an additional 203 shares during the period. CWM LLC boosted its stake in shares of Balchem by 34.0% in the first quarter. CWM LLC now owns 520 shares of the basic materials company’s stock valued at $86,000 after buying an additional 132 shares during the period. Finally, Archer Investment Corp boosted its stake in shares of Balchem by 81.7% in the first quarter. Archer Investment Corp now owns 1,001 shares of the basic materials company’s stock valued at $166,000 after buying an additional 450 shares during the period. 87.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BCPC has been the subject of several recent analyst reports. Wall Street Zen cut Balchem from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. HC Wainwright restated a “buy” rating and set a $189.00 target price (up from $180.00) on shares of Balchem in a research note on Monday, August 4th.

Balchem Stock Down 0.3%

NASDAQ BCPC opened at $158.88 on Tuesday. The business has a fifty day moving average price of $159.03 and a two-hundred day moving average price of $162.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.64 and a quick ratio of 1.57. Balchem Corporation has a fifty-two week low of $145.70 and a fifty-two week high of $185.96. The stock has a market capitalization of $5.16 billion, a PE ratio of 36.44, a PEG ratio of 3.40 and a beta of 0.88.

Balchem (NASDAQ:BCPC) last released its earnings results on Thursday, July 31st. The basic materials company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.02. Balchem had a return on equity of 12.41% and a net margin of 14.48%. The firm had revenue of $255.47 million during the quarter, compared to analysts’ expectations of $250.31 million. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Balchem Corporation will post 4.64 earnings per share 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.