Balchem Reports Encouraging 1Q Results; We Maintain Our $83 Per Share Fair Value Estimate
Our $83 per share fair value estimate and narrow-moat rating are unchanged, having updating our model to reflect Balchem's first-quarter results. By and large, the company's performance was solid, with adjusted earnings of $0.59 per share up slightly from $0.58 per share in the same period last year. Balchem generated adjusted EBITDA of $35.8 million on sales of $138 million, versus adjusted EBITDA of $35.5 million on sales of $135 million in the first quarter of 2016.Perhaps most encouraging w...
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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