PNC Financial Services Group Inc. Trims Position in Balchem Co. (NASDAQ:BCPC)

PNC Financial Services Group Inc. decreased its position in shares of Balchem Co. (NASDAQ:BCPC) by 7.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,566 shares of the basic materials company’s stock after selling 664 shares during the period. PNC Financial Services Group Inc.’s holdings in Balchem were worth $1,274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BCPC. Deutsche Bank AG lifted its stake in shares of Balchem by 15.7% during the third quarter. Deutsche Bank AG now owns 17,970 shares of the basic materials company’s stock valued at $2,229,000 after buying an additional 2,437 shares during the period. QRG Capital Management Inc. purchased a new position in Balchem during the third quarter worth approximately $483,000. Envestnet Portfolio Solutions Inc. purchased a new position in Balchem during the third quarter worth approximately $465,000. Envestnet Asset Management Inc. raised its stake in Balchem by 15.9% during the third quarter. Envestnet Asset Management Inc. now owns 83,972 shares of the basic materials company’s stock worth $10,416,000 after purchasing an additional 11,501 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Balchem by 81.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 13,000 shares of the basic materials company’s stock worth $1,613,000 after purchasing an additional 5,829 shares during the period. Hedge funds and other institutional investors own 87.91% of the company’s stock.

Wall Street Analysts Forecast Growth

BCPC has been the topic of a number of recent analyst reports. HC Wainwright increased their price target on shares of Balchem from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. StockNews.com raised shares of Balchem from a “hold” rating to a “buy” rating in a research note on Friday, May 10th.

Insider Transactions at Balchem

In related news, Director David B. Fischer sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $152.98, for a total transaction of $764,900.00. Following the completion of the sale, the director now directly owns 9,009 shares of the company’s stock, valued at approximately $1,378,196.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Michael Robert Sestrick sold 1,929 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $154.45, for a total transaction of $297,934.05. Following the completion of the sale, the senior vice president now directly owns 4,878 shares of the company’s stock, valued at approximately $753,407.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David B. Fischer sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $152.98, for a total transaction of $764,900.00. Following the sale, the director now directly owns 9,009 shares of the company’s stock, valued at $1,378,196.82. The disclosure for this sale can be found here. Company insiders own 1.25% of the company’s stock.

Balchem Price Performance

Balchem stock opened at $151.60 on Friday. Balchem Co. has a 52-week low of $110.74 and a 52-week high of $159.52. The firm has a fifty day moving average of $150.48 and a 200-day moving average of $148.45. The firm has a market capitalization of $4.91 billion, a P/E ratio of 42.82, a PEG ratio of 3.55 and a beta of 0.70. The company has a quick ratio of 1.72, a current ratio of 2.61 and a debt-to-equity ratio of 0.30.

Balchem (NASDAQ:BCPC) last released its quarterly earnings data on Friday, May 3rd. The basic materials company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.05). Balchem had a return on equity of 11.03% and a net margin of 12.35%. The business had revenue of $239.66 million during the quarter, compared to analyst estimates of $234.12 million. As a group, analysts predict that Balchem Co. will post 3.86 EPS for the current year.

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.