Mutual of America Capital Management LLC Reduces Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Mutual of America Capital Management LLC lessened its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 70.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,957 shares of the company's stock after selling 248,289 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of ChampionX worth $3,104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHX. Blue Trust Inc. raised its stake in ChampionX by 442.4% in the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company's stock valued at $44,000 after purchasing an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of ChampionX in the second quarter valued at approximately $68,000. UMB Bank n.a. lifted its position in 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 buying an additional 882 shares in the last quarter. KBC Group NV grew 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 worth $176,000 after buying an additional 903 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of ChampionX in the 2nd quarter worth about $194,000. Institutional investors own 98.99% of the company's stock.

ChampionX Stock Down 0.1 %

ChampionX stock traded down $0.04 during mid-day trading on Friday, hitting $31.24. The company had a trading volume of 1,850,075 shares, compared to its average volume of 1,656,422. The stock's 50 day moving average price is $30.46 and its two-hundred day moving average price is $31.58. The company has a market capitalization of $5.95 billion, a PE ratio of 19.40 and a beta of 2.38. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. 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 - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The company had revenue of $906.53 million during the quarter, compared to analysts' expectations of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. As a group, sell-side analysts anticipate 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. Investors of record on Friday, January 3rd will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.22%. The ex-dividend date is Friday, January 3rd. ChampionX's dividend payout ratio (DPR) is presently 23.60%.

Analyst Ratings Changes

Separately, Citigroup decreased their price target on shares of ChampionX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, November 14th.

Insider Buying and Selling at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 337,409 shares of the company's stock, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.38% of the stock is owned by company insiders.

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.