Short Interest in Balchem Co. (NASDAQ:BCPC) Declines By 10.3%

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Balchem Co. (NASDAQ:BCPC) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 700,800 shares, a decline of 10.3% from the August 30th total of 781,100 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily volume of 112,800 shares, the days-to-cover ratio is currently 6.2 days.

In other Balchem news, VP Scott C. Mason acquired 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $84.74 per share, with a total value of $254,220.00. Following the completion of the purchase, the vice president now directly owns 12,524 shares in the company, valued at $1,061,283.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David F. Ludwig sold 12,750 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $90.00, for a total transaction of $1,147,500.00. Following the completion of the sale, the vice president now directly owns 21,038 shares of the company’s stock, valued at $1,893,420. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of BCPC. Capital Investment Services of America Inc. lifted its stake in Balchem by 5.9% during the third quarter. Capital Investment Services of America Inc. now owns 128,740 shares of the basic materials company’s stock worth $12,770,000 after purchasing an additional 7,178 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Balchem by 126.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 24,958 shares of the basic materials company’s stock valued at $2,475,000 after purchasing an additional 13,951 shares during the period. Macquarie Group Ltd. raised its position in shares of Balchem by 4.0% during the 2nd quarter. Macquarie Group Ltd. now owns 428,784 shares of the basic materials company’s stock valued at $42,865,000 after purchasing an additional 16,348 shares during the period. BlackRock Inc. raised its position in shares of Balchem by 1.0% during the 2nd quarter. BlackRock Inc. now owns 4,712,524 shares of the basic materials company’s stock valued at $471,110,000 after purchasing an additional 47,908 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Balchem by 2.8% during the 2nd quarter. Royal Bank of Canada now owns 330,107 shares of the basic materials company’s stock valued at $33,000,000 after purchasing an additional 9,051 shares during the period. Institutional investors own 86.47% of the company’s stock.

A number of brokerages have recently issued reports on BCPC. Zacks Investment Research upgraded Balchem from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 target price (down from $110.00) on shares of Balchem in a research report on Monday, August 5th. Finally, BidaskClub raised Balchem from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $108.75.

BCPC stock traded up $0.69 during trading on Tuesday, hitting $100.89. 4,370 shares of the company’s stock were exchanged, compared to its average volume of 104,306. The business has a 50-day moving average price of $96.77 and a two-hundred day moving average price of $96.22. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 33.52 and a beta of 1.22. Balchem has a 52-week low of $73.16 and a 52-week high of $105.99. The company has a current ratio of 3.73, a quick ratio of 2.63 and a debt-to-equity ratio of 0.33.

Balchem (NASDAQ:BCPC) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.08. The firm had revenue of $161.60 million for the quarter, compared to analyst estimates of $163.14 million. Balchem had a return on equity of 13.87% and a net margin of 12.27%. Balchem’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, equities research analysts anticipate that Balchem will post 3.06 earnings per share for the current fiscal year.

Balchem Company Profile

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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