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Balchem (BCPC) soared to an all-time high of $65.89 on Tuesday after the company, which provides ethylene oxide to medical device manufacturers, announced its acquisition of SensoryEffects, a privately held supplier of customized food and beverage ingredient systems for $567 million in cash. Balchem said in a statement it expects the acquisition to be immediately accretive to its earnings per share. The transaction should close within the next 40 days. SensoryEffects expects revenue of approximately $260 million and adjusted EBIDTA of approximately $53 million in 2014. More than 850,000 shares changed hands on Tuesday, up from the average volume of 118,180. The stock hit a low of $56.15 for the day and holds a one-year low of $41.
Shareholders of Balchem Corp. looking to boost their income beyond the stock's 0.5% annualized dividend yield can sell the August covered call at the $60 strike and collect the premium based on the $1.95 bid, which annualizes to an additional 8.7% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 9.1% annualized rate in the scenario where the stock is not called away.
In trading on Tuesday, shares of Balchem Corp. crossed above their 200 day moving average of $51.81, changing hands as high as $52.20 per share.
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100.
In trading on Tuesday, shares of Balchem Corp. crossed below their 200 day moving average of $51.14, changing hands as low as $50.53 per share.
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