Louisiana State Employees Retirement System Decreases Stock Holdings in Balchem Co. (NASDAQ:BCPC)

Posted by on Jul 4th, 2023

Louisiana State Employees Retirement System reduced its stake in shares of Balchem Co. (NASDAQ:BCPC – Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the basic materials company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Balchem were worth $1,897,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Proficio Capital Partners LLC purchased a new stake in shares of Balchem during the 1st quarter worth $138,000. Montanaro Asset Management Ltd raised its stake in Balchem by 7.9% in the first quarter. Montanaro Asset Management Ltd now owns 170,500 shares of the basic materials company’s stock valued at $21,565,000 after buying an additional 12,500 shares during the last quarter. Congress Wealth Management LLC DE raised its stake in Balchem by 6.9% in the first quarter. Congress Wealth Management LLC DE now owns 31,673 shares of the basic materials company’s stock valued at $4,006,000 after buying an additional 2,045 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Balchem by 2.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 23,220 shares of the basic materials company’s stock valued at $2,937,000 after buying an additional 497 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Balchem by 13.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 87,816 shares of the basic materials company’s stock valued at $11,107,000 after buying an additional 10,320 shares during the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on BCPC shares. HC Wainwright increased their price target on Balchem from $140.00 to $150.00 in a research note on Monday, June 5th. StockNews.com started coverage on Balchem in a research note on Thursday, May 18th. They issued a “hold” rating for the company.

Insider Transactions at Balchem

In related news, SVP Michael Robert Sestrick sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $130.36, for a total transaction of $299,828.00. Following the sale, the senior vice president now directly owns 5,424 shares of the company’s stock, valued at $707,072.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.77% of the company’s stock.

Balchem Trading Down 0.2 %

Shares of NASDAQ:BCPC opened at $134.57 on Tuesday. Balchem Co. has a 52-week low of $116.68 and a 52-week high of $143.88. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 43.98 and a beta of 0.71. The company has a quick ratio of 1.81, a current ratio of 2.88 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $129.05 and a 200-day moving average price of $128.38.

Balchem (NASDAQ:BCPC – Free Report) last announced its quarterly earnings data on Friday, April 28th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.08). Balchem had a return on equity of 10.69% and a net margin of 10.48%. The firm had revenue of $232.54 million during the quarter, compared to analysts’ expectations of $232.00 million. During the same quarter in the previous year, the business earned $0.89 earnings per share. Equities analysts predict that Balchem Co. will post 3.41 EPS for the current year.

About Balchem

(Free Report)

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 in the United States and internationally. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.

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Institutional Ownership by Quarter for Balchem (NASDAQ:BCPC)

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