Scout Investments Inc. boosted its position in shares of Balchem Co. (NASDAQ:BCPC) by 2.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,871 shares of the basic materials company’s stock after purchasing an additional 1,247 shares during the quarter. Scout Investments Inc.’s holdings in Balchem were worth $6,711,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zeke Capital Advisors LLC acquired a new position in Balchem during the second quarter valued at approximately $203,000. Cubist Systematic Strategies LLC acquired a new position in shares of Balchem in the second quarter valued at approximately $218,000. Granahan Investment Management Inc. MA acquired a new position in shares of Balchem in the second quarter valued at approximately $224,000. Sigma Planning Corp acquired a new position in shares of Balchem in the second quarter valued at approximately $229,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Balchem in the second quarter valued at approximately $240,000. Hedge funds and other institutional investors own 88.21% of the company’s stock.
Several research analysts have recently weighed in on the stock. HC Wainwright assumed coverage on shares of Balchem in a report on Tuesday, September 25th. They issued a “buy” rating for the company. BidaskClub cut shares of Balchem from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 29th. ValuEngine upgraded shares of Balchem from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Finally, Sidoti upgraded shares of Balchem from a “neutral” rating to a “buy” rating and set a $127.00 price target for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $120.67.
Balchem (NASDAQ:BCPC) last released its quarterly earnings results on Friday, August 3rd. The basic materials company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The company had revenue of $163.70 million during the quarter, compared to analysts’ expectations of $163.20 million. Balchem had a net margin of 15.28% and a return on equity of 13.78%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that Balchem Co. will post 2.45 EPS for the current fiscal year.
Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization, and industrial markets in the United States and internationally. The company's Human Nutrition & Health segment supplies ingredients in the food and beverage industry.
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