The Manufacturers Life Insurance Company Has $6.28 Million Position in ChampionX Co. (NASDAQ:CHX)

The Manufacturers Life Insurance Company lessened its holdings in ChampionX Co. (NASDAQ:CHX) by 21.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,312 shares of the company’s stock after selling 58,064 shares during the period. The Manufacturers Life Insurance Company’s holdings in ChampionX were worth $6,281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. lifted its holdings in shares of ChampionX by 442.4% during the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after buying an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in ChampionX in the 2nd quarter valued at approximately $68,000. UMB Bank n.a. lifted its holdings 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 buying an additional 882 shares during the last quarter. KBC Group NV boosted its position in shares of ChampionX by 18.3% in 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 during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of ChampionX in the second quarter worth $194,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Insider Buying and Selling 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.38% of the company’s stock.

Wall Street Analyst Weigh In

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

ChampionX Price Performance

Shares of ChampionX stock opened at $29.73 on Friday. 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 price is $30.53 and its two-hundred day moving average price is $31.37. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 18.47 and a beta of 2.38.

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

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be issued 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 1.28%. ChampionX’s dividend payout ratio is currently 23.60%.

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.