Sumitomo Mitsui Trust Group Inc. Has $479,000 Stock Position in ChampionX Co. (NASDAQ:CHX)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of ChampionX Co. (NASDAQ:CHX) by 6.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,879 shares of the company’s stock after selling 1,041 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in ChampionX were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Legend Financial Advisors Inc. raised its stake in shares of ChampionX by 1.6% in the second quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock worth $713,000 after acquiring an additional 340 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of ChampionX by 2.4% during the third quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock worth $637,000 after acquiring an additional 487 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of ChampionX during the first quarter valued at $27,000. UMB Bank n.a. boosted its holdings in ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after acquiring an additional 882 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in ChampionX by 16.4% during the 2nd quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock worth $217,000 after purchasing an additional 918 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Insider Buying and Selling

In related news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction 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 sale, the insider now owns 337,409 shares in the company, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.38% of the stock is owned by corporate insiders.

ChampionX Stock Down 1.1 %

Shares of CHX stock opened at $30.53 on Wednesday. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average of $30.30 and a 200-day moving average of $31.61. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 18.96 and a beta of 2.38.

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

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s dividend payout ratio is currently 23.60%.

Wall Street Analyst Weigh In

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

About ChampionX

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.