Allspring Global Investments Holdings LLC Acquires 1,822 Shares of Balchem Co. (NASDAQ:BCPC)

Allspring Global Investments Holdings LLC increased its stake in Balchem Co. (NASDAQ:BCPC - Free Report) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,796 shares of the basic materials company's stock after purchasing an additional 1,822 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.29% of Balchem worth $15,125,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BCPC. Entropy Technologies LP purchased a new position in shares of Balchem during the 4th quarter valued at $689,000. Apollon Wealth Management LLC bought a new stake in Balchem in the fourth quarter worth $503,000. R Squared Ltd bought a new stake in Balchem in the fourth quarter worth $29,000. Pacer Advisors Inc. lifted its stake in Balchem by 18.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,113 shares of the basic materials company's stock worth $181,000 after purchasing an additional 173 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Balchem by 42.5% during the fourth quarter. KBC Group NV now owns 1,275 shares of the basic materials company's stock valued at $208,000 after acquiring an additional 380 shares during the last quarter. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on BCPC shares. StockNews.com raised shares of Balchem from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. HC Wainwright boosted their price target on shares of Balchem from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Monday, November 4th.

Balchem Stock Down 1.5 %

BCPC traded down $2.46 during midday trading on Thursday, reaching $161.32. The company's stock had a trading volume of 120,676 shares, compared to its average volume of 125,672. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 43.37, a PEG ratio of 4.47 and a beta of 0.69. The company has a current ratio of 2.98, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. Balchem Co. has a 1 year low of $137.69 and a 1 year high of $186.03. The stock's 50-day moving average is $162.76 and its 200-day moving average is $169.38.

Balchem Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, December 26th were issued a $0.87 dividend. This represents a yield of 0.4%. The ex-dividend date was Thursday, December 26th. This is a boost from Balchem's previous annual dividend of $0.79. Balchem's dividend payout ratio is 23.39%.

Balchem 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.