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Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Balchem Inc. (NASDAQ:BCPC – Free Report) by 81.3% in the third quarter, according to its latest filings with the Securities and Exchange Commission (SEC). . The company now owns 13,000 shares of the basic materials company’s stock after purchasing an additional 5,829 shares during the quarter. The Healthcare of Ontario Pension Plan Trust Fund’s holdings in Balchem were worth $1.613 million at the time of the latest SEC filing.
A number of other hedge funds and institutional investors have also recently modified their holdings of BCPC. Huntington National Bank raised its stake in Balchem by 10.8% in the second quarter. Huntington National Bank now owns 819 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 80 shares in the last quarter. Manufacturers Life Insurance Company increased its position in shares of Balchem by 0.6% during the 2nd quarter. Manufacturers Life Insurance Company now owns 12,791 shares of Basic Materials Company’s stock valued at $1,724,000 after purchasing an additional 81 shares in the last quarter. Mercer Global Advisors Inc. ADV increased his holdings in shares of Balchem by 5.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,808 shares of the basic materials company’s stock valued at $244,000 after acquiring an additional 89 shares during the last quarter. First Republic Investment Management Inc. grew its position in Balchem by 3.0% in the 1st quarter. First Republic Investment Management Inc. now owns 3,108 shares of the Basic Materials company’s stock valued at $393,000 after acquiring an additional 91 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Balchem by 4.6% in the 2nd quarter. Franklin Resources Inc. now owns 2,125 shares of the basic materials company’s stock valued at $276,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 87.91% of the company’s stock.
Insider activity at Balchem
In other news, SVP Michael Robert Sestrick sold 11,100 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $153.21, for a total transaction of $1,700,631.00. Following the transaction, the executive vice president now directly owns 6,736 shares of the company’s stock, valued at $1,032,022.56. The sale was disclosed in his SEC filing, which can be accessed through this hyperlink. In related news, CEO Theodore L. Harris sold 34,350 shares of Balchem stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $154.29, for a total value of $5,299,861.50. Following the completion of the sale, the CEO now directly owns 66,412 shares of the company’s stock, valued at $10,246,707.48. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael Robert Sestrick sold 11,100 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $153.21, for a total transaction of $1,700,631.00. Following the transaction, the executive vice president now owns 6,736 shares of the company’s stock, valued at $1,032,022.56. Disclosures regarding this sale can be found here. Insiders have sold 60,450 shares of company stock worth $9,321,443 in the past 90 days. 1.77% of the stock is owned by company insiders.
Wall Street analysts predict growth
BCPC has been the subject of several analyst reports. StockNews.com upgraded Balchem from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Wainwright HC lowered their target price on Balchem from $165.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, October 30th.
See our latest stock analysis for Balchem.
Balchem stock price performance
NASDAQ:BCPC stock opened at $156.88 on Monday. The company’s current ratio is 2.12 times, quick ratio is 1.38 times, and debt-to-equity ratio is 0.31 times. Balchem has a 12-month low of $110.74 and a 12-month high of $157.46. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 46.83x, a PEG ratio of 4.86x, and a beta of 0.70x. The company’s 50 day moving average is $144.27 and its 200 day moving average is $133.97.
Balchem (NASDAQ:BCPC – Get Free Report) last issued its earnings results on Friday, February 16th. The basic materials company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Balchem had a return on equity of 10.69% and a net profit margin of 11.77%. The company had revenue of $228.7 million for the quarter, compared to analyst expectations of $234.66 million. The company’s earnings per share for the same period last year were $0.66. The company’s quarterly sales decreased 1.6% from the same period last year. Research analysts predict that Balchem’s EPS for the current year will be $4.03.
Balchem increases dividend
The company also recently announced an annual dividend, which was paid on Friday, January 19th. Investors of record on Wednesday December 27th were paid a dividend of $0.79. This represents a yield of 0.6%. The ex-dividend date was Tuesday, December 26th. This is an increase from Balchem’s previous annual dividend of $0.40. Balchem’s dividend payout ratio (DPR) is currently 23.58%.
Balchem Company Profile
(Free report)
Balchem Corporation develops, manufactures and markets specialty functional ingredients and products for nutrition, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets in the United States and around the world. He operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.
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