Balchem (NASDAQ:BCPC) Shares Gap Down – Here’s What Happened

Balchem Co. (NASDAQ:BCPC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $161.03, but opened at $156.36. Balchem shares last traded at $161.16, with a volume of 8,186 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. HC Wainwright boosted their price target on shares of Balchem from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, November 4th. StockNews.com raised shares of Balchem from a “hold” rating to a “buy” rating in a research report on Monday, October 28th.

Balchem Price Performance

The company has a 50 day moving average price of $167.45 and a 200 day moving average price of $170.71. The company has a current ratio of 2.98, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.17 billion, a PE ratio of 42.77, a price-to-earnings-growth ratio of 4.26 and a beta of 0.69.

Balchem Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, December 26th were paid a dividend of $0.87 per share. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, December 26th. This is a positive change from Balchem’s previous annual dividend of $0.79. Balchem’s dividend payout ratio is currently 23.39%.

Institutional Investors Weigh In On Balchem

A number of institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in Balchem by 19.7% in the second quarter. American Century Companies Inc. now owns 4,444 shares of the basic materials company’s stock valued at $684,000 after purchasing an additional 730 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Balchem during the second quarter valued at $898,000. Squarepoint Ops LLC bought a new position in Balchem in the 2nd quarter worth about $385,000. The Manufacturers Life Insurance Company grew its holdings in Balchem by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,423 shares of the basic materials company’s stock worth $2,836,000 after buying an additional 708 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Balchem by 23.5% during the second quarter. Mackenzie Financial Corp now owns 2,342 shares of the basic materials company’s stock valued at $361,000 after purchasing an additional 446 shares during the period. Hedge funds and other institutional investors own 87.91% of the company’s stock.

About Balchem

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 worldwide. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.