Principal Financial Group Inc. Has $28.03 Million Holdings in Balchem Co. (NASDAQ:BCPC)

Principal Financial Group Inc. decreased its position in Balchem Co. (NASDAQ:BCPC) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,276 shares of the basic materials company’s stock after selling 7,086 shares during the quarter. Principal Financial Group Inc.’s holdings in Balchem were worth $28,033,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BCPC. Janney Montgomery Scott LLC raised its stake in shares of Balchem by 53.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,977 shares of the basic materials company’s stock valued at $461,000 after purchasing an additional 1,038 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Balchem by 2.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,867 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 104 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Balchem in the 1st quarter valued at about $495,000. Sei Investments Co. raised its stake in shares of Balchem by 4.1% in the 1st quarter. Sei Investments Co. now owns 127,822 shares of the basic materials company’s stock valued at $19,805,000 after purchasing an additional 5,001 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in shares of Balchem by 0.6% in the 1st quarter. William Blair Investment Management LLC now owns 215,727 shares of the basic materials company’s stock valued at $33,427,000 after acquiring an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.

Balchem Trading Down 1.6 %

Balchem stock opened at $178.33 on Wednesday. Balchem Co. has a 52 week low of $117.10 and a 52 week high of $186.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 2.98. The stock has a market capitalization of $5.80 billion, a P/E ratio of 47.94, a PEG ratio of 5.36 and a beta of 0.65. The stock has a 50-day simple moving average of $172.33 and a 200 day simple moving average of $164.99.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BCPC. HC Wainwright raised their price objective on Balchem from $185.00 to $190.00 and gave the company a “buy” rating in a report on Monday, November 4th. StockNews.com upgraded Balchem from a “hold” rating to a “buy” rating in a report on Monday, October 28th.

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.