Congress Asset Management Co. Boosts Stock Holdings in Balchem Co. (NASDAQ:BCPC)

Congress Asset Management Co. grew its position in Balchem Co. (NASDAQ:BCPC) by 12.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 301,440 shares of the basic materials company’s stock after acquiring an additional 33,373 shares during the quarter. Congress Asset Management Co. owned about 0.93% of Balchem worth $53,053,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Balchem by 1.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,926 shares of the basic materials company’s stock worth $604,000 after buying an additional 59 shares in the last quarter. Inspire Investing LLC boosted its position in Balchem by 2.7% during the third quarter. Inspire Investing LLC now owns 2,348 shares of the basic materials company’s stock worth $413,000 after acquiring an additional 62 shares during the last quarter. Hsbc Holdings PLC grew its stake in Balchem by 1.5% during the 2nd quarter. Hsbc Holdings PLC now owns 4,915 shares of the basic materials company’s stock valued at $757,000 after acquiring an additional 75 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in Balchem by 6.1% in the 3rd quarter. Atomi Financial Group Inc. now owns 1,674 shares of the basic materials company’s stock valued at $295,000 after acquiring an additional 96 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Balchem by 5.2% in the 2nd quarter. Xponance Inc. now owns 2,046 shares of the basic materials company’s stock worth $315,000 after purchasing an additional 102 shares in the last quarter. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

Balchem Trading Down 0.5 %

BCPC stock traded down $0.90 during mid-day trading on Thursday, hitting $167.98. 5,990 shares of the company were exchanged, compared to its average volume of 106,572. The business has a fifty day simple moving average of $171.75 and a 200-day simple moving average of $162.70. The firm has a market capitalization of $5.45 billion, a P/E ratio of 47.71, a PEG ratio of 5.43 and a beta of 0.65. Balchem Co. has a 12-month low of $114.97 and a 12-month high of $186.03. The company has a quick ratio of 1.79, a current ratio of 2.83 and a debt-to-equity ratio of 0.26.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BCPC shares. HC Wainwright raised their target price on Balchem from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Balchem from a “hold” rating to a “buy” rating in a research report on Monday.

Balchem Profile

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.