Balchem (NASDAQ:BCPC) Stock Price Down 84.3% – Here’s What Happened

Balchem Co. (NASDAQ:BCPC)’s share price fell 84.3% during mid-day trading on Thursday . The company traded as low as $159.07 and last traded at $24.84. 43,232 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 122,315 shares. The stock had previously closed at $158.46.

Analyst Ratings Changes

Several brokerages recently issued reports on BCPC. StockNews.com upgraded Balchem from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. HC Wainwright lifted 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 Trading Up 0.4 %

The business’s 50 day moving average is $167.87 and its 200-day moving average is $170.79. The firm has a market cap of $5.17 billion, a P/E ratio of 42.77, a price-to-earnings-growth ratio of 4.36 and a beta of 0.69. The company has a quick ratio of 1.90, a current ratio of 2.98 and a debt-to-equity ratio of 0.21.

Balchem Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 17th. Investors of record on Thursday, December 26th were paid a dividend of $0.87 per share. This is a boost from Balchem’s previous annual dividend of $0.79. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, December 26th. Balchem’s payout ratio is currently 23.39%.

Institutional Investors Weigh In On Balchem

A number of institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of Balchem by 1.0% during the third quarter. State Street Corp now owns 1,234,226 shares of the basic materials company’s stock worth $217,224,000 after acquiring an additional 12,006 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Balchem by 1.8% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,175,569 shares of the basic materials company’s stock worth $206,900,000 after acquiring an additional 20,360 shares during the last quarter. Geode Capital Management LLC grew its holdings in Balchem by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 928,904 shares of the basic materials company’s stock worth $163,514,000 after acquiring an additional 27,979 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in Balchem by 1.7% during the 3rd quarter. Geneva Capital Management LLC now owns 779,869 shares of the basic materials company’s stock worth $137,257,000 after buying an additional 12,750 shares during the period. Finally, FMR LLC boosted its holdings in Balchem by 944.3% in the third quarter. FMR LLC now owns 497,495 shares of the basic materials company’s stock valued at $87,559,000 after acquiring an additional 449,854 shares during the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.

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.