Teachers Retirement System of The State of Kentucky Reduces Stock Position in ChampionX Co. (NASDAQ:CHX)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 63,766 shares of the company’s stock after selling 1,660 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in ChampionX were worth $1,922,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CHX. Wealth Enhancement Advisory Services LLC grew its holdings in ChampionX by 41.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,042 shares of the company’s stock worth $632,000 after acquiring an additional 5,542 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of ChampionX during the second quarter worth about $194,000. New York State Teachers Retirement System grew its stake in ChampionX by 8.1% in the second quarter. New York State Teachers Retirement System now owns 231,551 shares of the company’s stock worth $7,690,000 after purchasing an additional 17,259 shares in the last quarter. AMG National Trust Bank increased its holdings in ChampionX by 7.3% in the second quarter. AMG National Trust Bank now owns 30,517 shares of the company’s stock valued at $1,013,000 after buying an additional 2,074 shares during the last quarter. Finally, Calamos Advisors LLC acquired a new stake in ChampionX during the second quarter valued at approximately $8,701,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Insider Activity

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.38% of the company’s stock.

ChampionX Trading Down 0.5 %

ChampionX stock opened at $28.34 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The firm’s 50-day moving average is $30.17 and its 200-day moving average is $31.13. The company has a market cap of $5.40 billion, a P/E ratio of 17.60 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last issued its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, equities analysts expect that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, January 3rd. ChampionX’s payout ratio is 23.60%.

Analyst Upgrades and Downgrades

Separately, Citigroup decreased their target price on ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research 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.