Balchem Co. (NASDAQ:BCPC – Get Rating) – Investment analysts at HC Wainwright lowered their Q2 2023 earnings estimates for Balchem in a research note issued on Monday, June 5th. HC Wainwright analyst R. Selvaraju now anticipates that the basic materials company will post earnings of $0.80 per share for the quarter, down from their previous estimate of $0.86. The consensus estimate for Balchem’s current full-year earnings is $3.60 per share. HC Wainwright also issued estimates for Balchem’s Q3 2023 earnings at $0.91 EPS, Q4 2023 earnings at $1.00 EPS, FY2023 earnings at $3.41 EPS, Q2 2024 earnings at $1.06 EPS, Q3 2024 earnings at $1.08 EPS, Q4 2024 earnings at $1.12 EPS and FY2024 earnings at $4.25 EPS.
Balchem (NASDAQ:BCPC – Get Rating) last released its quarterly earnings results on Friday, April 28th. The basic materials company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Balchem had a return on equity of 10.69% and a net margin of 10.48%. The company had revenue of $232.54 million during the quarter, compared to analysts’ expectations of $232.00 million. During the same period in the prior year, the firm earned $0.89 EPS.
Balchem Price Performance
BCPC stock opened at $132.04 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.88 and a quick ratio of 1.81. Balchem has a one year low of $110.15 and a one year high of $143.88. The stock has a market cap of $4.26 billion, a PE ratio of 43.15 and a beta of 0.70. The firm has a 50 day simple moving average of $126.49 and a two-hundred day simple moving average of $128.74.
Insider Transactions at Balchem
In other news, SVP Michael Robert Sestrick sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $130.36, for a total value of $299,828.00. Following the completion of the sale, the senior vice president now directly owns 5,424 shares in the company, valued at approximately $707,072.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director David B. Fischer sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $127.01, for a total value of $381,030.00. Following the completion of the sale, the director now directly owns 17,269 shares in the company, valued at approximately $2,193,335.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael Robert Sestrick sold 2,300 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $130.36, for a total transaction of $299,828.00. Following the sale, the senior vice president now owns 5,424 shares of the company’s stock, valued at $707,072.64. The disclosure for this sale can be found here. Company insiders own 1.77% of the company’s stock.
Institutional Investors Weigh In On Balchem
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Balchem by 1.7% during the 3rd quarter. BlackRock Inc. now owns 4,900,490 shares of the basic materials company’s stock valued at $595,802,000 after buying an additional 83,220 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Balchem by 7.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,862,027 shares of the basic materials company’s stock worth $469,545,000 after purchasing an additional 261,534 shares during the period. Wasatch Advisors LP lifted its position in shares of Balchem by 27.0% in the 1st quarter. Wasatch Advisors LP now owns 2,069,516 shares of the basic materials company’s stock worth $261,752,000 after purchasing an additional 439,827 shares during the period. State Street Corp lifted its position in shares of Balchem by 2.1% in the 1st quarter. State Street Corp now owns 1,086,050 shares of the basic materials company’s stock worth $137,364,000 after purchasing an additional 22,112 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its position in shares of Balchem by 0.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,049,446 shares of the basic materials company’s stock worth $132,734,000 after purchasing an additional 8,868 shares during the period. 89.29% of the stock is currently owned by institutional investors.
Balchem Company Profile
Balchem Corp. provides marketing of specialty performance ingredients and products. It operates through the following segments: Human Nutrition and Health, Animal Nutrition and Health, Specialty Products and Industrial Products. The Human Nutrition and Health segment supplies ingredients in the food and beverage industry, providing customized solutions in powder, solid and liquid flavor delivery systems, spray dried emulsified powder systems, and cereal systems.
Read More
- Get a free copy of the StockNews.com research report on Balchem (BCPC)
- Is American Airlines a Good Stock to Buy?
- High Dividend REITs: Are They an Ideal Way to Diversify?
- It Is Not Too Late To “Git” On Board With GitLab
- Is Frontline’s 20% Dividend Too Good To Be True?
- Hospitality’s Rebound Has A Table At Cracker Barrel
Receive News & Ratings for Balchem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Balchem and related companies with MarketBeat.com's FREE daily email newsletter.
