JPMorgan Chase & Co. Boosts Stake in Balchem Co. (NASDAQ:BCPC)

JPMorgan Chase & Co. boosted its holdings in shares of Balchem Co. (NASDAQ:BCPC) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 458,986 shares of the basic materials company’s stock after acquiring an additional 7,721 shares during the period. JPMorgan Chase & Co.’s holdings in Balchem were worth $80,782,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BCPC. Westside Investment Management Inc. purchased a new stake in shares of Balchem in the third quarter valued at approximately $27,000. nVerses Capital LLC acquired a new position in Balchem during the third quarter worth $35,000. Wilmington Savings Fund Society FSB purchased a new stake in Balchem in the 3rd quarter valued at $35,000. GAMMA Investing LLC increased its stake in shares of Balchem by 73.4% in the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 356 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Balchem by 642.5% during the 3rd quarter. Blue Trust Inc. now owns 839 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 726 shares during the period. Institutional investors and hedge funds own 87.91% of the company’s stock.

Balchem Stock Performance

Shares of Balchem stock opened at $158.58 on Friday. The business’s fifty day simple moving average is $174.02 and its 200-day simple moving average is $170.35. The company has a quick ratio of 1.90, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.16 billion, a PE ratio of 42.63, a price-to-earnings-growth ratio of 5.32 and a beta of 0.67. Balchem Co. has a 52 week low of $135.84 and a 52 week high of $186.03.

Balchem Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, December 26th will be paid a dividend of $0.87 per share. This represents a yield of 0.4%. The ex-dividend date of this dividend is Thursday, December 26th. This is a positive change from Balchem’s previous annual dividend of $0.79. Balchem’s dividend payout ratio (DPR) is 23.39%.

Analysts Set New Price Targets

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

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.