MML Investors Services LLC Grows Stock Holdings in ChampionX Co. (NASDAQ:CHX)

MML Investors Services LLC increased its stake in ChampionX Co. (NASDAQ:CHX) by 8.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 89,145 shares of the company’s stock after buying an additional 7,299 shares during the period. MML Investors Services LLC’s holdings in ChampionX were worth $2,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of ChampionX by 442.4% during 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 bought a new stake in ChampionX during the second quarter valued at approximately $68,000. UMB Bank n.a. increased its holdings 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 during the last quarter. KBC Group NV raised its position in ChampionX by 18.3% in the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after acquiring an additional 903 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of ChampionX during the 2nd quarter worth $194,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their price objective on ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 14th.

ChampionX Trading Down 2.2 %

ChampionX stock opened at $28.49 on Monday. 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 $5.43 billion, a price-to-earnings ratio of 17.70 and a beta of 2.38. The firm has a 50 day moving average of $30.26 and a 200 day moving average of $31.16. 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 announced 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). The firm 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 business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. As a group, research analysts predict that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Dividend Announcement

The firm 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 $0.095 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.33%. ChampionX’s payout ratio is 23.60%.

Insider Transactions at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the transaction, the insider now directly owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.38% of the company’s stock.

ChampionX 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.