Balchem (NASDAQ:BCPC) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Balchem Co. (NASDAQ:BCPC) saw strong trading volume on Friday . 62,570 shares traded hands during trading, a decline of 44% from the previous session’s volume of 110,896 shares.The stock last traded at $164.36 and had previously closed at $166.51.

Wall Street Analysts Forecast Growth

BCPC has been the subject of a number of analyst reports. StockNews.com raised shares of Balchem from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. HC Wainwright raised their price objective on Balchem from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Balchem Trading Up 0.1 %

The stock’s 50 day moving average is $175.12 and its 200-day moving average is $169.53. The company has a market cap of $5.42 billion, a P/E ratio of 44.81, a PEG ratio of 5.32 and a beta of 0.67. The company has a current ratio of 2.98, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21.

Balchem Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State Street Corp grew its stake in shares of Balchem by 1.0% in the third quarter. State Street Corp now owns 1,234,226 shares of the basic materials company’s stock worth $217,224,000 after acquiring an additional 12,006 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Balchem by 1.8% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,175,569 shares of the basic materials company’s stock valued at $206,900,000 after buying an additional 20,360 shares during the period. Geode Capital Management LLC boosted its stake in shares of Balchem by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 928,904 shares of the basic materials company’s stock worth $163,514,000 after buying an additional 27,979 shares during the last quarter. Geneva Capital Management LLC grew its holdings in shares of Balchem by 1.7% in the third quarter. Geneva Capital Management LLC now owns 779,869 shares of the basic materials company’s stock worth $137,257,000 after acquiring an additional 12,750 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Balchem by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 697,461 shares of the basic materials company’s stock valued at $107,372,000 after acquiring an additional 5,977 shares during the last quarter. Hedge funds and other institutional investors own 87.91% of the company’s stock.

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.