Principal Financial Group Inc. Reduces Stock Holdings in Balchem Co. (NASDAQ:BCPC)

Principal Financial Group Inc. lessened its holdings in shares of Balchem Co. (NASDAQ:BCPC - Free Report) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,276 shares of the basic materials company's stock after selling 7,086 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of Balchem worth $28,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Inspire Investing LLC lifted its stake in shares of Balchem by 2.7% during the 3rd quarter. Inspire Investing LLC now owns 2,348 shares of the basic materials company's stock valued at $413,000 after buying an additional 62 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Balchem by 1.5% in the second quarter. Hsbc Holdings PLC now owns 4,915 shares of the basic materials company's stock valued at $757,000 after acquiring an additional 75 shares in the last quarter. Atomi Financial Group Inc. grew its position in shares of Balchem by 6.1% during the third quarter. Atomi Financial Group Inc. now owns 1,674 shares of the basic materials company's stock worth $295,000 after purchasing an additional 96 shares in the last quarter. Xponance Inc. raised its stake in Balchem by 5.2% during the 2nd quarter. Xponance Inc. now owns 2,046 shares of the basic materials company's stock valued at $315,000 after purchasing an additional 102 shares during the period. Finally, Benjamin Edwards Inc. lifted its holdings in Balchem by 6.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,231 shares of the basic materials company's stock worth $344,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 87.91% of the company's stock.

Balchem Price Performance

Balchem stock traded up $1.84 during midday trading on Wednesday, reaching $167.17. 43,185 shares of the stock traded hands, compared to its average volume of 112,663. The stock has a market cap of $5.43 billion, a P/E ratio of 44.94, a PEG ratio of 5.32 and a beta of 0.67. The stock's fifty day moving average is $174.75 and its 200-day moving average is $170.01. The company has a quick ratio of 1.90, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. Balchem Co. has a 12 month low of $135.84 and a 12 month high of $186.03.

Balchem Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, December 26th will be given a $0.87 dividend. This represents a yield of 0.4%. The ex-dividend date is Thursday, December 26th. This is a boost from Balchem's previous annual dividend of $0.79. Balchem's payout ratio is currently 23.39%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BCPC. StockNews.com raised shares of Balchem from a "hold" rating to a "buy" rating in a report on Monday, October 28th. HC Wainwright upped their target price on shares of Balchem from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, November 4th.

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.