California State Teachers Retirement System Sells 582 Shares of Balchem Co. (NASDAQ:BCPC)

Posted by Defense World Staff on Aug 22nd, 2023

California State Teachers Retirement System lowered its holdings in Balchem Co. (NASDAQ:BCPC – Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,086 shares of the basic materials company’s stock after selling 582 shares during the period. California State Teachers Retirement System owned about 0.12% of Balchem worth $5,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE increased its position in shares of Balchem by 0.9% during the 1st quarter. US Bancorp DE now owns 19,071 shares of the basic materials company’s stock worth $2,412,000 after purchasing an additional 162 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Balchem during the first quarter worth $441,000. Russell Investments Group Ltd. raised its position in Balchem by 61.5% during the first quarter. Russell Investments Group Ltd. now owns 35,088 shares of the basic materials company’s stock worth $4,438,000 after acquiring an additional 13,356 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Balchem in the first quarter valued at $202,000. Finally, Truist Financial Corp bought a new position in shares of Balchem in the 1st quarter valued at about $201,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Balchem Trading Down 0.8 %

BCPC stock opened at $135.48 on Tuesday. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 44.13 and a beta of 0.71. The company has a fifty day moving average price of $133.39 and a two-hundred day moving average price of $130.35. Balchem Co. has a one year low of $116.68 and a one year high of $143.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.94 and a quick ratio of 1.85.

Balchem (NASDAQ:BCPC – Get Free Report) last announced its earnings results on Friday, July 28th. The basic materials company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. The business had revenue of $231.25 million during the quarter, compared to the consensus estimate of $241.00 million. Balchem had a net margin of 10.58% and a return on equity of 10.43%. Equities analysts anticipate that Balchem Co. will post 3.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BCPC shares. HC Wainwright raised their target price on shares of Balchem from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, July 31st. StockNews.com began coverage on Balchem in a research report on Thursday, August 17th. They issued a “hold” rating for the company.

Check Out Our Latest Research Report on Balchem

Balchem Company Profile

(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.