Assenagon Asset Management S.A. Sells 88,050 Shares of Balchem Co. (NASDAQ:BCPC)

Assenagon Asset Management S.A. reduced its position in shares of Balchem Co. (NASDAQ:BCPC - Free Report) by 85.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,961 shares of the basic materials company's stock after selling 88,050 shares during the period. Assenagon Asset Management S.A.'s holdings in Balchem were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. State Street Corp increased its position in shares of Balchem by 1.0% in the third quarter. State Street Corp now owns 1,234,226 shares of the basic materials company's stock worth $217,224,000 after purchasing an additional 12,006 shares during the period. Conestoga Capital Advisors LLC raised its position in shares of Balchem by 1.8% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,175,569 shares of the basic materials company's stock valued at $206,900,000 after buying an additional 20,360 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Balchem by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 928,904 shares of the basic materials company's stock worth $163,514,000 after acquiring an additional 27,979 shares during the period. Geneva Capital Management LLC boosted its position in shares of Balchem by 1.7% during the 3rd quarter. Geneva Capital Management LLC now owns 779,869 shares of the basic materials company's stock worth $137,257,000 after acquiring an additional 12,750 shares in the last quarter. Finally, FMR LLC lifted its stake in Balchem by 944.3% during the third quarter. FMR LLC now owns 497,495 shares of the basic materials company's stock worth $87,559,000 after purchasing an additional 449,854 shares during the last quarter. Institutional investors own 87.91% of the company's stock.

Balchem Price Performance

Shares of NASDAQ:BCPC traded up $0.11 during trading on Thursday, hitting $162.21. 118,770 shares of the company were exchanged, compared to its average volume of 128,069. Balchem Co. has a 1-year low of $137.69 and a 1-year high of $186.03. The company has a market capitalization of $5.27 billion, a P/E ratio of 43.60, a price-to-earnings-growth ratio of 4.39 and a beta of 0.69. The company has a quick ratio of 1.90, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $169.56 and its 200-day moving average is $170.89.

Balchem Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BCPC. HC Wainwright lifted their price target on Balchem from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, November 4th. StockNews.com raised Balchem from a "hold" rating to a "buy" rating in a research note on Monday, October 28th.

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.