PNC Financial Services Group Inc. cut its holdings in Balchem Co. (NASDAQ:BCPC – Get Rating) by 16.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,681 shares of the basic materials company’s stock after selling 2,132 shares during the period. PNC Financial Services Group Inc.’s holdings in Balchem were worth $1,459,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Conestoga Capital Advisors LLC boosted its holdings in shares of Balchem by 1.1% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,011,373 shares of the basic materials company’s stock valued at $138,255,000 after buying an additional 10,665 shares during the period. State Street Corp boosted its holdings in shares of Balchem by 1.6% in the 4th quarter. State Street Corp now owns 1,004,812 shares of the basic materials company’s stock valued at $170,051,000 after buying an additional 15,797 shares during the period. Geode Capital Management LLC boosted its stake in Balchem by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 603,823 shares of the basic materials company’s stock valued at $101,804,000 after purchasing an additional 45,326 shares during the period. Schroder Investment Management Group boosted its stake in Balchem by 3.3% during the 4th quarter. Schroder Investment Management Group now owns 603,136 shares of the basic materials company’s stock valued at $101,689,000 after purchasing an additional 19,063 shares during the period. Finally, Stephens Investment Management Group LLC boosted its stake in Balchem by 1.4% during the 1st quarter. Stephens Investment Management Group LLC now owns 320,085 shares of the basic materials company’s stock valued at $43,756,000 after purchasing an additional 4,457 shares during the period. 89.15% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Balchem news, VP Gunsteren Job Leonard Van sold 1,000 shares of the business’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $131.12, for a total transaction of $131,120.00. Following the sale, the vice president now directly owns 1,430 shares in the company, valued at approximately $187,501.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by insiders.
Analysts Set New Price Targets
Balchem Stock Up 0.9 %
BCPC stock opened at $130.37 on Wednesday. Balchem Co. has a 52 week low of $110.15 and a 52 week high of $174.29. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 39.03 and a beta of 0.59. The firm’s 50-day moving average is $131.41 and its two-hundred day moving average is $130.21. The company has a current ratio of 2.62, a quick ratio of 1.64 and a debt-to-equity ratio of 0.50.
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 in the United States and internationally. It operates through three segments: Human Nutrition & Health, Animal Nutrition & Health, and Specialty Products.
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