Balchem Co. (NASDAQ:BCPC) Short Interest Update

Balchem Co. (NASDAQ:BCPC) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 533,400 shares, a growth of 30.2% from the August 15th total of 409,800 shares. Based on an average daily trading volume, of 94,100 shares, the short-interest ratio is presently 5.7 days. Approximately 1.7% of the shares of the stock are sold short.

Shares of NASDAQ BCPC opened at $139.26 on Tuesday. The company has a current ratio of 2.85, a quick ratio of 2.07 and a debt-to-equity ratio of 0.16. Balchem has a one year low of $93.68 and a one year high of $142.46. The business has a 50-day moving average price of $134.40 and a two-hundred day moving average price of $130.56. The firm has a market capitalization of $4.51 billion, a PE ratio of 50.46 and a beta of 0.58.

Balchem (NASDAQ:BCPC) last posted its quarterly earnings results on Thursday, July 29th. The basic materials company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.88 by $0.05. The business had revenue of $202.37 million during the quarter, compared to analysts’ expectations of $191.00 million. Balchem had a net margin of 12.08% and a return on equity of 13.38%. Research analysts anticipate that Balchem will post 3.78 EPS for the current year.

Several research analysts have commented on the stock. Stephens cut shares of Balchem from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $140.00 to $145.00 in a report on Monday, August 2nd. They noted that the move was a valuation call. HC Wainwright raised their price objective on shares of Balchem from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, August 2nd. Finally, Zacks Investment Research upgraded shares of Balchem from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Monday, September 13th.

In other news, CAO William A. Backus sold 10,520 shares of the stock in a transaction on Monday, August 9th. The stock was sold at an average price of $132.02, for a total transaction of $1,388,850.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William A. Backus sold 12,248 shares of the business’s stock in a transaction on Friday, August 6th. The stock was sold at an average price of $134.04, for a total value of $1,641,721.92. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its holdings in shares of Balchem by 3.3% during the second quarter. Parametric Portfolio Associates LLC now owns 115,489 shares of the basic materials company’s stock worth $15,159,000 after acquiring an additional 3,716 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG raised its stake in shares of Balchem by 9.8% during the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 16,352 shares of the basic materials company’s stock worth $2,146,000 after purchasing an additional 1,462 shares in the last quarter. Morgan Stanley lifted its stake in Balchem by 27.9% in the second quarter. Morgan Stanley now owns 202,467 shares of the basic materials company’s stock valued at $26,577,000 after acquiring an additional 44,213 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in Balchem by 94,111.1% in the second quarter. Metropolitan Life Insurance Co NY now owns 8,479 shares of the basic materials company’s stock worth $1,113,000 after acquiring an additional 8,470 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Balchem by 294.6% during the 2nd quarter. Millennium Management LLC now owns 22,455 shares of the basic materials company’s stock worth $2,947,000 after purchasing an additional 16,764 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Balchem Company Profile

Balchem Corp. provides marketing of specialty performance ingredients and products. It operates through the following segments: Human Nutrition and Health, Animal Nutrition and Health, Specialty Products and Industrial Products. The Human Nutrition and Health segment supplies ingredients in the food and beverage industry, providing customized solutions in powder, solid and liquid flavor delivery systems, spray dried emulsified powder systems, and cereal systems.

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