Mutual of America Capital Management LLC Sells 237,847 Shares of ChampionX Co. (NASDAQ:CHX)

Mutual of America Capital Management LLC lowered its holdings in ChampionX Co. (NASDAQ:CHX) by 40.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,246 shares of the company’s stock after selling 237,847 shares during the quarter. Mutual of America Capital Management LLC owned 0.18% of ChampionX worth $11,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CHX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in ChampionX by 6.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,091 shares of the company’s stock valued at $18,881,000 after buying an additional 32,860 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in ChampionX during the 1st quarter worth $587,000. Sei Investments Co. grew its stake in ChampionX by 18.0% during the 1st quarter. Sei Investments Co. now owns 798,936 shares of the company’s stock worth $28,674,000 after buying an additional 121,700 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in ChampionX by 27.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 891,381 shares of the company’s stock valued at $26,037,000 after purchasing an additional 190,928 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in ChampionX by 7.2% during the 4th quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock valued at $10,685,000 after purchasing an additional 24,662 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

CHX stock opened at $29.83 on Thursday. The firm has a 50 day moving average of $31.67 and a 200-day moving average of $33.03. 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 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.13 and a beta of 2.37.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.11). ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The business had revenue of $893.30 million during the quarter, compared to analyst estimates of $954.91 million. During the same quarter last year, the firm posted $0.48 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that ChampionX Co. will post 1.99 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.27%. ChampionX’s dividend payout ratio is currently 20.65%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.00.

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.