Balchem Co. (NASDAQ:BCPC) Raises Dividend to $0.87 Per Share

Balchem Co. (NASDAQ:BCPC) declared an annual dividend on Wednesday, December 11th,Wall Street Journal reports. Shareholders of record on Thursday, December 26th will be paid a dividend of 0.87 per share by the basic materials company on Friday, January 17th. This represents a yield of 0.4%. The ex-dividend date of this dividend is Thursday, December 26th. This is a boost from Balchem’s previous annual dividend of $0.79.

Balchem has raised its dividend by an average of 10.9% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Balchem has a dividend payout ratio of 16.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Balchem to earn $4.64 per share next year, which means the company should continue to be able to cover its $0.79 annual dividend with an expected future payout ratio of 17.0%.

Balchem Stock Up 1.5 %

BCPC stock traded up $2.66 during trading on Wednesday, reaching $178.05. 51,878 shares of the stock were exchanged, compared to its average volume of 109,389. The company has a current ratio of 2.98, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $174.85 and its 200 day moving average is $168.73. The firm has a market cap of $5.79 billion, a P/E ratio of 47.15, a price-to-earnings-growth ratio of 5.30 and a beta of 0.67. Balchem has a twelve month low of $133.82 and a twelve month high of $186.03.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. 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 objective on Balchem from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

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.