Congress Asset Management Co. Has $51.77 Million Stock Position in Balchem Co. (NASDAQ:BCPC)

Congress Asset Management Co. raised its stake in shares of Balchem Co. (NASDAQ:BCPC - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,610 shares of the basic materials company's stock after buying an additional 16,170 shares during the period. Congress Asset Management Co. owned 0.98% of Balchem worth $51,769,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp increased its stake 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 increased its stake in shares of Balchem by 1.8% in the third quarter. Conestoga Capital Advisors LLC now owns 1,175,569 shares of the basic materials company's stock worth $206,900,000 after purchasing an additional 20,360 shares during the period. Geode Capital Management LLC increased its stake in shares of Balchem by 3.1% in the third quarter. Geode Capital Management LLC now owns 928,904 shares of the basic materials company's stock worth $163,514,000 after purchasing an additional 27,979 shares during the period. Geneva Capital Management LLC increased its stake in shares of Balchem by 1.7% in the third quarter. Geneva Capital Management LLC now owns 779,869 shares of the basic materials company's stock worth $137,257,000 after purchasing an additional 12,750 shares during the period. Finally, FMR LLC increased its stake in shares of Balchem by 944.3% in 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 period. 87.91% of the stock is currently owned by institutional investors.

Balchem Stock Performance

BCPC traded down $2.23 on Wednesday, hitting $163.78. 226,418 shares of the stock traded hands, compared to its average volume of 125,829. Balchem Co. has a 52 week low of $137.69 and a 52 week high of $186.03. The company has a current ratio of 2.98, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $5.32 billion, a PE ratio of 44.03, a P/E/G ratio of 4.61 and a beta of 0.69. The business has a fifty day moving average price of $163.23 and a two-hundred day moving average price of $169.45.

Balchem Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on BCPC. StockNews.com upgraded Balchem from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. HC Wainwright boosted 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.

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.