Norges Bank Buys Shares of 430,475 Balchem Co. (NASDAQ:BCPC)

Norges Bank purchased a new stake in Balchem Co. (NASDAQ:BCPC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 430,475 shares of the basic materials company's stock, valued at approximately $70,165,000. Norges Bank owned approximately 1.32% of Balchem at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in Balchem by 944.3% in the third quarter. FMR LLC now owns 497,495 shares of the basic materials company's stock valued at $87,559,000 after acquiring an additional 449,854 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Balchem in the 4th quarter valued at $23,628,000. Raymond James Financial Inc. acquired a new stake in shares of Balchem in the 4th quarter valued at $13,359,000. JPMorgan Chase & Co. lifted its position in shares of Balchem by 11.0% during the 4th quarter. JPMorgan Chase & Co. now owns 509,490 shares of the basic materials company's stock worth $83,044,000 after purchasing an additional 50,504 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Balchem by 405.8% during the third quarter. Barclays PLC now owns 60,777 shares of the basic materials company's stock worth $10,695,000 after purchasing an additional 48,762 shares in the last quarter. 87.91% of the stock is owned by institutional investors and hedge funds.

Balchem Stock Performance

NASDAQ:BCPC traded down $4.42 during mid-day trading on Friday, reaching $155.78. 229,987 shares of the stock were exchanged, compared to its average volume of 124,047. The company has a 50 day simple moving average of $165.43 and a 200-day simple moving average of $169.04. The stock has a market capitalization of $5.07 billion, a P/E ratio of 39.64, a P/E/G ratio of 4.41 and a beta of 0.63. The company has a quick ratio of 1.16, a current ratio of 1.99 and a debt-to-equity ratio of 0.19. Balchem Co. has a 1 year low of $137.69 and a 1 year high of $186.03.

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Balchem (NASDAQ:BCPC - Get Free Report) last announced its earnings results on Friday, February 21st. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.11 by ($0.08). Balchem had a return on equity of 11.37% and a net margin of 13.47%. The business had revenue of $240.00 million for the quarter, compared to analysts' expectations of $239.96 million. Analysts anticipate that Balchem Co. will post 4.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BCPC. HC Wainwright reissued a "buy" rating and set a $190.00 target price on shares of Balchem in a research report on Monday, February 24th. StockNews.com lowered shares of Balchem from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Sidoti raised shares of Balchem to a "hold" rating in a research report on Tuesday, February 25th.

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.