Salem Investment Counselors Inc. Decreases Stock Holdings in Balchem Co. (NASDAQ:BCPC)

Salem Investment Counselors Inc. decreased its holdings in shares of Balchem Co. (NASDAQ:BCPC) by 3.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 76,345 shares of the basic materials company’s stock after selling 3,000 shares during the period. Salem Investment Counselors Inc.’s holdings in Balchem were worth $12,444,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc purchased a new stake in shares of Balchem during the second quarter worth approximately $200,000. Victory Capital Management Inc. increased its position in shares of Balchem by 4.3% during the second quarter. Victory Capital Management Inc. now owns 43,031 shares of the basic materials company’s stock worth $6,625,000 after purchasing an additional 1,788 shares in the last quarter. Choreo LLC purchased a new stake in shares of Balchem during the second quarter worth approximately $247,000. American Century Companies Inc. increased its position in shares of Balchem by 19.7% during the second quarter. American Century Companies Inc. now owns 4,444 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 730 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in shares of Balchem by 8.4% during the second quarter. William Blair Investment Management LLC now owns 233,831 shares of the basic materials company’s stock worth $35,998,000 after purchasing an additional 18,104 shares in the last quarter. Hedge funds and other institutional investors own 87.91% of the company’s stock.

Analysts Set New Price Targets

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

Balchem Trading Up 0.3 %

NASDAQ:BCPC traded up $0.44 during trading hours on Monday, hitting $154.66. The company had a trading volume of 33,867 shares, compared to its average volume of 118,724. The company has a current ratio of 2.98, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $172.43 and a 200 day moving average of $170.81. The company has a market cap of $5.03 billion, a P/E ratio of 41.58, a P/E/G ratio of 5.32 and a beta of 0.69. Balchem Co. has a 1 year low of $135.84 and a 1 year high of $186.03.

Balchem Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, December 26th will be issued a dividend of $0.87 per share. The ex-dividend date is Thursday, December 26th. This is a boost from Balchem’s previous annual dividend of $0.79. This represents a dividend yield of 0.4%. Balchem’s dividend payout ratio is currently 23.39%.

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.