Retirement Systems of Alabama Sells 3,589 Shares of ChampionX Co. (NASDAQ:CHX)

Retirement Systems of Alabama decreased its position in ChampionX Co. (NASDAQ:CHX) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 231,411 shares of the company’s stock after selling 3,589 shares during the quarter. Retirement Systems of Alabama’s holdings in ChampionX were worth $6,977,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of ChampionX by 442.4% in the third 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 in the last quarter. DekaBank Deutsche Girozentrale bought a new position in ChampionX during the 2nd quarter worth $68,000. UMB Bank n.a. raised its holdings in ChampionX by 63.7% in the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after acquiring an additional 882 shares in the last quarter. KBC Group NV lifted its position in shares of ChampionX by 18.3% during the 3rd 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 during the 2nd quarter worth $194,000. Institutional investors own 98.99% of the company’s stock.

Insider Activity at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.38% of the stock is owned by insiders.

ChampionX Trading Down 2.8 %

Shares of CHX stock opened at $27.54 on Wednesday. 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 fifty-two week low of $25.46 and a fifty-two week high of $39.95. The company has a market cap of $5.25 billion, a PE ratio of 17.11 and a beta of 2.38. The stock’s fifty day moving average price is $30.10 and its two-hundred day moving average price is $31.10.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $906.53 million during the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.41 EPS. Equities analysts predict that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, January 3rd. ChampionX’s dividend payout ratio is 23.60%.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their price objective 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 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.