Sumitomo Mitsui Trust Group Inc. Has $466,000 Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of ChampionX Co. (NASDAQ:CHX) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,144 shares of the company’s stock after acquiring an additional 1,265 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in ChampionX were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CHX. Blue Trust Inc. lifted 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. R Squared Ltd bought a new position in ChampionX in the 4th quarter valued at approximately $103,000. KBC Group NV lifted its stake in ChampionX by 18.3% in the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after purchasing an additional 903 shares during the last quarter. Quantinno Capital Management LP bought a new position in ChampionX in the 3rd quarter valued at approximately $265,000. Finally, Coldstream Capital Management Inc. lifted its stake in ChampionX by 6.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company’s stock valued at $290,000 after purchasing an additional 594 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

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

ChampionX Price Performance

CHX stock opened at $29.44 on Friday. The company has a fifty day moving average price of $28.43 and a 200-day moving average price of $29.81. The company has a market capitalization of $5.62 billion, a P/E ratio of 17.84 and a beta of 2.35. ChampionX Co. has a 52-week low of $25.57 and a 52-week high of $39.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.20 and a current ratio of 1.99.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. As a group, equities analysts expect that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 3rd were paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Friday, January 3rd. ChampionX’s dividend payout ratio is presently 23.03%.

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.