Balchem Is A Steady Narrow-Moat Company With Option Value Stemming From CM-AT Opportunity
Although Balchem shares traded lower after the company's second-quarter earnings release, we didn't see any cause for concern. While profits in the human nutrition and health segment were a bit soft, we were encouraged by strong performance from the company's three other reporting segments. Driven by a slight increase to our near-term profit outlook as well as the time value of money, our fair value estimate rises to $89 per share from $85. Our narrow moat rating is unchanged.Adjusted EBITDA ro...
Balchem is engaged in the development, manufacture and marketing of specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization and industrial markets. The company has four reportable segments: Human Nutrition & Health, which provides human grade choline nutrients and mineral amino acid chelated products for nutrition wellness applications; Animal Nutrition & Health, which provides nutritional products in addition to basic choline chloride; Specialty Products, which provides ethylene oxide and propylene oxide; and Industrial Products, which provides certain derivatives of choline chloride, as well as manufactures and sells methylamines.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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