Balchem Co. (NASDAQ:BCPC) Sees Large Decline in Short Interest

Balchem Co. (NASDAQ:BCPC) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 416,700 shares, a decrease of 10.6% from the January 15th total of 465,900 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 129,100 shares, the short-interest ratio is currently 3.2 days.

Balchem Stock Performance

NASDAQ BCPC traded up $1.68 during mid-day trading on Monday, reaching $164.82. 131,072 shares of the stock were exchanged, compared to its average volume of 114,008. The company has a market capitalization of $5.36 billion, a P/E ratio of 44.31, a P/E/G ratio of 4.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 2.98. The business’s 50 day moving average is $163.46 and its 200-day moving average is $169.53. Balchem has a 1 year low of $137.69 and a 1 year high of $186.03.

Balchem Increases Dividend

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

Hedge Funds Weigh In On Balchem

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd grew its holdings in Balchem by 93.8% in the fourth quarter. Covestor Ltd now owns 157 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 76 shares during the period. Westside Investment Management Inc. acquired a new stake in Balchem in the 3rd quarter valued at $27,000. R Squared Ltd acquired a new stake in Balchem in the 4th quarter valued at $29,000. Federated Hermes Inc. purchased a new stake in Balchem in the 4th quarter worth $33,000. Finally, nVerses Capital LLC acquired a new position in Balchem during the third quarter worth $35,000. Hedge funds and other institutional investors own 87.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BCPC shares. HC Wainwright lifted their price objective on Balchem from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, November 4th. StockNews.com upgraded Balchem from a “hold” rating to a “buy” rating in a research report on Monday, October 28th.

Balchem Company 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.