Intech Investment Management LLC Buys 36,479 Shares of ChampionX Co. (NASDAQ:CHX)

Intech Investment Management LLC grew its stake in shares of ChampionX Co. (NASDAQ:CHX) by 53.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,192 shares of the company’s stock after acquiring an additional 36,479 shares during the quarter. Intech Investment Management LLC owned about 0.05% of ChampionX worth $3,141,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CHX. Blue Trust Inc. raised its holdings in 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 acquiring an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of ChampionX in the second quarter worth $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 valued at $68,000 after purchasing an additional 882 shares in the last quarter. KBC Group NV boosted its position in shares of ChampionX by 18.3% during the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after buying an additional 903 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in ChampionX in the 2nd quarter worth about $194,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Performance

CHX stock opened at $31.24 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The company has a market cap of $5.95 billion, a P/E ratio of 19.40 and a beta of 2.38. The stock’s fifty day moving average price is $30.46 and its 200-day moving average price is $31.57.

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

ChampionX Announces Dividend

The firm also recently announced 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 is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.22%. ChampionX’s dividend payout ratio is currently 23.60%.

Insiders Place Their Bets

In other news, insider Deric D. Bryant sold 49,303 shares of the firm’s stock in a transaction dated 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 owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.38% of the company’s stock.

Wall Street Analyst Weigh In

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 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.