BCPC Balchem Corporation

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CUSIP NO. 057665200 13G PAGE 2 OF 5 PAGES
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 1 NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)


 Ashford Capital Management, Inc.
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 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
 (a) [ ]
 (b) [ ]
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 3 SEC USE ONLY

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 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 Delaware
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 5 SOLE VOTING POWER


 NUMBER OF ----- ------------------------------------------------
 SHARES 6 SHARED VOTING POWER
 BENEFICIALLY
 OWNED BY
 EACH ----- ------------------------------------------------
 REPORTING 7 SOLE DISPOSITIVE POWER
 PERSON
 WITH
 ----- ------------------------------------------------
 8 SHARED DISPOSITIVE POWER


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 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON



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 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 (SEE INSTRUCTIONS) [ ]


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 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9


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 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 IA
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CUSIP NO. 057665200 13G PAGE 3 OF 5 PAGES
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ITEM 1.

 (a) Name of Issuer:

 Balchem Corporation

 (b) Address of Issuer's Principal Executive Offices:

 P.O. Box 600, New Hampton, NY 10958

ITEM 2.

 (a) Name of Person Filing:

 Ashford Capital Management, Inc.

 (b) Address of Principal Business Office or, if none, Residence:

 P.O. Box 4172, Wilmington, DE 19807

 (c) Citizenship: A Delaware Corporation

 (d) Title of Class of Securities: Common Stock, $0.0667 Par Value Per
 Share

 (e) CUSIP Number: 057665200

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B) OR
 240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:

 (a) |_| Broker or dealer registered under section 15 of the Act

 (b) |_| Bank as defined in section 3(a)(6) of the Act

 (c) |_| Insurance company as defined in section 3(a)(19) of the Act

 (d) |_| Investment company registered under section 8 of the Investment
 Company Act of 1940

 (e) |X| An investment adviser in accordance with
 ss.240.13d-1(b)(1(ii)(E)

 (f) |_| An employee benefit plan or endowment fund in accordance with
 ss.240.13d-1(b)(1)(ii)(F)

 (g) |_| A parent holding company or control person in accordance with
 ss.240.13d-1(b)(1)(ii)(G)

 (h) |_| A savings association as defined in section 3(b) of the Federal
 Deposit Insurance Act

 (i) |_| A church plan that is excluded from the definition of an
 investment company under section 3(c)(14) of the Investment
 Company Act of 1940

 (j) |_| Group, in accordance with ss.240.13d-1(b)-1(ii)(J)

ITEM 4. OWNERSHIP

 Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

 N/A

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

 If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following |X|.

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

 N/A

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CUSIP NO. 057665200 13G PAGE 4 OF 5 PAGES
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ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
 SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

 N/A

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

 N/A

ITEM 9. NOTICE OF DISSOLUTION OF GROUP

 N/A

ITEM 10. CERTIFICATION

 By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.

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CUSIP NO. 057665200 13G PAGE 5 OF 5 PAGES
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 SIGNATURE

 After reasonable inquiry and to the best of its knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Date: February 14, 2009

ASHFORD CAPITAL MANAGEMENT, INC.


By: /S/ Anthony M. Petrucci
 ----------------------------------
 Anthony M. Petrucci
 Chief Financial Officer and Chief Compliance Officer