Shares of Balchem Co. (NASDAQ:BCPC) hit a new 52-week high during trading on Friday . The company traded as high as $104.98 and last traded at $104.47, with a volume of 12606 shares trading hands. The stock had previously closed at $99.43.

A number of analysts recently commented on the stock. BidaskClub upgraded shares of Balchem from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Vertical Group cut shares of Balchem from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. They noted that the move was a valuation call. Finally, Pivotal Research upped their price target on shares of Balchem from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, August 3rd.

The company has a market cap of $3.21 billion, a P/E ratio of 36.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.82 and a current ratio of 3.98.

Balchem (NASDAQ:BCPC) last announced its quarterly earnings results on Friday, August 3rd. The basic materials company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. The company had revenue of $163.70 million for the quarter, compared to analysts’ expectations of $163.20 million. Balchem had a net margin of 15.28% and a return on equity of 13.78%. The firm’s revenue was up 11.3% compared to the same quarter last year.

Several hedge funds have recently made changes to their positions in BCPC. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Balchem by 57.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,829 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 665 shares during the period. Zeke Capital Advisors LLC bought a new stake in Balchem during the 2nd quarter worth approximately $203,000. Eagle Boston Investment Management Inc. bought a new stake in Balchem during the 1st quarter worth approximately $211,000. SG Americas Securities LLC bought a new stake in Balchem during the 1st quarter worth approximately $213,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Balchem during the 2nd quarter worth approximately $218,000. Institutional investors own 86.91% of the company’s stock.

About Balchem (NASDAQ:BCPC)

Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization, and industrial markets in the United States and internationally. The company's Human Nutrition & Health segment supplies ingredients in the food and beverage industry.

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