Mutual of America Capital Management LLC Sells 248,289 Shares of ChampionX Co. (NASDAQ:CHX)

Mutual of America Capital Management LLC decreased its position in ChampionX Co. (NASDAQ:CHX) by 70.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,957 shares of the company’s stock after selling 248,289 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of ChampionX worth $3,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of 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 ChampionX during the second quarter valued at $68,000. 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 worth $68,000 after acquiring an additional 882 shares in the last quarter. KBC Group NV grew its stake in shares of ChampionX by 18.3% in the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after acquiring an additional 903 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of ChampionX during the second quarter valued at $194,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Insider Transactions at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the firm’s 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 transaction, the insider now directly owns 337,409 shares in the company, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.38% of the company’s stock.

ChampionX Price Performance

Shares of NASDAQ CHX opened at $31.24 on Friday. The firm has a market cap of $5.95 billion, a P/E ratio of 19.40 and a beta of 2.38. ChampionX Co. has a twelve month low of $25.46 and a twelve 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 company has a 50 day moving average of $30.46 and a 200 day moving average of $31.58.

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

ChampionX Announces Dividend

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

Analyst Upgrades and Downgrades

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

ChampionX 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.