Sumitomo Mitsui Trust Group Inc. Has $479,000 Holdings in ChampionX Co. (NASDAQ:CHX)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in ChampionX Co. (NASDAQ:CHX) by 6.2% in the third quarter, HoldingsChannel.com reports. The firm owned 15,879 shares of the company’s stock after selling 1,041 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in ChampionX were worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in ChampionX during the 1st quarter worth $27,000. Blue Trust Inc. lifted its position in ChampionX by 442.4% during the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after purchasing an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale bought a new position in ChampionX in the 2nd quarter valued at about $68,000. UMB Bank n.a. raised its position in shares of 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 buying an additional 882 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of ChampionX during the 2nd quarter worth approximately $194,000. 98.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ChampionX Stock Performance

NASDAQ:CHX opened at $30.53 on Wednesday. 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 Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The stock’s 50-day moving average is $30.30 and its 200-day moving average is $31.61. The stock has a market cap of $5.82 billion, a P/E ratio of 18.96 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings data 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). 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. ChampionX’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. Equities research analysts anticipate that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, January 3rd. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

Insider Buying and Selling

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.38% of the stock is owned by insiders.

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.