Allspring Global Investments Holdings LLC Boosts Stake in Balchem Co. (NASDAQ:BCPC)

Allspring Global Investments Holdings LLC increased its stake in shares of Balchem Co. (NASDAQ:BCPC - Free Report) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,974 shares of the basic materials company's stock after purchasing an additional 5,550 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.28% of Balchem worth $16,011,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Balchem by 3.8% in the first quarter. Vanguard Group Inc. now owns 3,935,935 shares of the basic materials company's stock worth $609,873,000 after purchasing an additional 144,423 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in shares of Balchem by 2.7% in the second quarter. Conestoga Capital Advisors LLC now owns 1,155,209 shares of the basic materials company's stock worth $177,844,000 after buying an additional 29,825 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Balchem by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 697,461 shares of the basic materials company's stock worth $107,372,000 after acquiring an additional 5,977 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Balchem by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 277,475 shares of the basic materials company's stock valued at $42,717,000 after purchasing an additional 3,279 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Balchem by 8.4% during 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 in the last quarter. Institutional investors own 87.91% of the company's stock.

Balchem Price Performance

BCPC traded up $5.30 on Friday, hitting $171.46. 178,090 shares of the company's stock traded hands, compared to its average volume of 106,203. The company's 50 day simple moving average is $171.68 and its 200-day simple moving average is $162.31. The company has a current ratio of 2.83, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Balchem Co. has a one year low of $110.74 and a one year high of $186.03. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 48.44, a P/E/G ratio of 5.43 and a beta of 0.65.

Balchem (NASDAQ:BCPC - Get Free Report) last issued its quarterly earnings data on Friday, October 25th. The basic materials company reported $1.03 earnings per share for the quarter, meeting analysts' consensus estimates of $1.03. The firm had revenue of $239.94 million during the quarter, compared to analyst estimates of $243.05 million. Balchem had a return on equity of 10.94% and a net margin of 12.52%. As a group, research analysts anticipate that Balchem Co. will post 3.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. HC Wainwright raised their target price on shares of Balchem from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Balchem from a "buy" rating to a "hold" rating in a report on Monday, July 29th.

Insider Buying and Selling

In other news, SVP Gunsteren Job Leonard Van sold 7,750 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $180.05, for a total transaction of $1,395,387.50. Following the sale, the senior vice president now directly owns 8,540 shares in the company, valued at approximately $1,537,627. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.25% of the stock is currently owned by company insiders.

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.