Quantinno Capital Management LP Acquires Shares of 8,773 ChampionX Co. (NASDAQ:CHX)

Quantinno Capital Management LP bought a new position in shares of ChampionX Co. (NASDAQ:CHX) in the third quarter, Holdings Channel reports. The institutional investor bought 8,773 shares of the company’s stock, valued at approximately $265,000.

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

Insider Activity

In related news, insider Deric D. Bryant sold 49,303 shares of ChampionX 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.38% of the company’s stock.

ChampionX Trading Down 0.5 %

Shares of CHX opened at $28.34 on Tuesday. ChampionX Co. has a 12-month low of $25.46 and a 12-month high of $39.95. The firm has a market capitalization of $5.40 billion, a P/E ratio of 17.60 and a beta of 2.38. The firm has a 50-day moving average price of $30.17 and a 200 day moving average price of $31.13. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33.

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 firm had revenue of $906.53 million during the quarter, compared to analysts’ expectations of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. Sell-side analysts forecast that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, January 3rd. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their price target 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.