NEW YORK ( TheStreet) -- Balchem Corporation (Nasdaq: BCPC) hit a new 52-week high Thursday as it is currently trading at $41.84, above its previous 52-week high of $41.81 with 94,580 shares traded as of 2:35 p.m. ET. Average volume has been 94,400 shares over the past 30 days.

Balchem has a market cap of $1.2 billion and is part of the consumer goods sector and food & beverage industry. Shares are up 21.9% year to date as of the close of trading on Wednesday.

Balchem Corporation provides specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, and medical sterilization industries in the United States and internationally. The company has a P/E ratio of 34.7, equal to the average food & beverage industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Balchem as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, robust revenue growth, solid stock price performance and compelling growth in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Balchem Ratings Report.

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