Intech Investment Management LLC Acquires 36,479 Shares of ChampionX Co. (NASDAQ:CHX)

Intech Investment Management LLC lifted its holdings in ChampionX Co. (NASDAQ:CHX) by 53.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,192 shares of the company’s stock after acquiring an additional 36,479 shares during the period. Intech Investment Management LLC’s holdings in ChampionX were worth $3,141,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in ChampionX by 442.4% in the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after purchasing an additional 1,084 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of ChampionX in the second quarter worth $68,000. UMB Bank n.a. boosted its position in shares of ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after acquiring an additional 882 shares during the last quarter. KBC Group NV grew its stake in ChampionX by 18.3% during the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after acquiring an additional 903 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in ChampionX in the 2nd quarter valued at $194,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Down 0.1 %

NASDAQ CHX opened at $31.24 on Friday. The stock has a 50 day moving average price of $30.46 and a 200-day moving average price of $31.57. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The company has a market capitalization of $5.95 billion, a P/E ratio of 19.40 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business had revenue of $906.53 million for the quarter, compared to the consensus estimate of $916.50 million. During the same quarter last year, the business earned $0.41 EPS. ChampionX’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities analysts predict that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 annualized dividend and a yield of 1.22%. ChampionX’s payout ratio is currently 23.60%.

Insiders Place Their Bets

In other news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the transaction, the insider now owns 337,409 shares in the company, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Citigroup dropped their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

ChampionX Company Profile

ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.