Balchem (NASDAQ:BCPC) Shares Down 84.3% – Here’s Why

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BCPC. StockNews.com upgraded Balchem from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. HC Wainwright increased their target price on shares of Balchem from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, November 4th.

Balchem Stock Performance

The company’s 50-day moving average price is $167.00 and its two-hundred day moving average price is $170.65. The stock has a market cap of $5.20 billion, a PE ratio of 43.00, a PEG ratio of 4.26 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 2.98.

Balchem Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, January 17th. Investors of record on Thursday, December 26th were given a $0.87 dividend. This is an increase from Balchem’s previous annual dividend of $0.79. The ex-dividend date was Thursday, December 26th. This represents a yield of 0.4%. Balchem’s payout ratio is presently 23.39%.

Institutional Trading of Balchem

Several institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in Balchem during the 2nd quarter worth approximately $898,000. Squarepoint Ops LLC bought a new position in shares of Balchem in the second quarter worth approximately $385,000. The Manufacturers Life Insurance Company increased its stake in shares of Balchem by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 18,423 shares of the basic materials company’s stock worth $2,836,000 after buying an additional 708 shares during the period. Mackenzie Financial Corp raised its holdings in Balchem by 23.5% during the 2nd quarter. Mackenzie Financial Corp now owns 2,342 shares of the basic materials company’s stock valued at $361,000 after buying an additional 446 shares during the last quarter. Finally, Algert Global LLC boosted its position in Balchem by 72.2% during the 2nd quarter. Algert Global LLC now owns 9,421 shares of the basic materials company’s stock valued at $1,450,000 after buying an additional 3,951 shares during the period. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

About Balchem

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.