State of New Jersey Common Pension Fund D Trims Stock Position in Balchem Co. (NASDAQ:BCPC)

State of New Jersey Common Pension Fund D trimmed its position in shares of Balchem Co. (NASDAQ:BCPC) by 13.4% during the third quarter, Holdings Channel reports. The firm owned 11,943 shares of the basic materials company’s stock after selling 1,849 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Balchem were worth $2,102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BCPC. Janus Henderson Group PLC increased its holdings in Balchem by 21.3% in the first quarter. Janus Henderson Group PLC now owns 18,059 shares of the basic materials company’s stock valued at $2,795,000 after buying an additional 3,176 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Balchem by 8.4% in the 2nd quarter. William Blair Investment Management LLC now owns 233,831 shares of the basic materials company’s stock valued at $35,998,000 after buying an additional 18,104 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Balchem by 22.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,582 shares of the basic materials company’s stock worth $3,169,000 after purchasing an additional 3,732 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Balchem by 9.9% during the second quarter. Envestnet Asset Management Inc. now owns 114,253 shares of the basic materials company’s stock worth $17,589,000 after buying an additional 10,285 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in shares of Balchem in the 2nd quarter worth approximately $243,000. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

Balchem Price Performance

BCPC opened at $177.77 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 2.98. The company has a 50-day moving average of $172.71 and a 200-day moving average of $165.42. Balchem Co. has a 1-year low of $120.76 and a 1-year high of $186.03. The company has a market capitalization of $5.78 billion, a P/E ratio of 47.79, a PEG ratio of 5.30 and a beta of 0.65.

Analyst Ratings Changes

Several brokerages recently issued reports on BCPC. StockNews.com upgraded Balchem from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. HC Wainwright raised their target price on shares of Balchem from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

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.