Alpine Associates Management Inc. Has $21.81 Million Stake in ChampionX Co. (NASDAQ:CHX)

Alpine Associates Management Inc. boosted its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 103.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 723,516 shares of the company’s stock after buying an additional 368,616 shares during the quarter. Alpine Associates Management Inc. owned about 0.38% of ChampionX worth $21,814,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in ChampionX during the first quarter worth $27,000. Blue Trust Inc. grew its position in shares of ChampionX by 442.4% in the third 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 stake in shares of ChampionX in the second quarter valued at about $68,000. UMB Bank n.a. grew its position in shares of ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares during the last quarter. Finally, KBC Group NV grew its position in shares of ChampionX by 18.3% in the third 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. 98.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

ChampionX Stock Down 1.1 %

NASDAQ CHX opened at $30.53 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The firm has a 50-day simple moving average of $30.30 and a 200 day simple moving average of $31.61. ChampionX Co. has a twelve month low of $25.46 and a twelve month high of $39.95. The stock has a market cap of $5.82 billion, a PE ratio of 18.96 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The company had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. During the same quarter in the previous year, the business posted $0.41 EPS. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, research analysts forecast that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, January 3rd. ChampionX’s payout ratio is presently 23.60%.

Insider Activity at ChampionX

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the firm’s stock in a transaction dated 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 owns 337,409 shares in the company, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.38% of the stock is owned by corporate insiders.

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.