Leeward Investments LLC MA Reduces Position in ChampionX Corporation (NASDAQ:CHX)

Leeward Investments LLC MA lessened its holdings in ChampionX Corporation (NASDAQ:CHX - Free Report) by 36.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 674,229 shares of the company's stock after selling 379,552 shares during the quarter. ChampionX makes up approximately 1.1% of Leeward Investments LLC MA's investment portfolio, making the stock its 21st largest position. Leeward Investments LLC MA owned 0.35% of ChampionX worth $20,092,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its holdings in ChampionX by 153.2% during the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock worth $25,000 after purchasing an additional 559 shares during the last quarter. UMB Bank n.a. boosted its holdings in ChampionX by 45.5% during the 1st quarter. UMB Bank n.a. now owns 3,097 shares of the company's stock worth $92,000 after acquiring an additional 969 shares during the last quarter. Vestcor Inc boosted its holdings in ChampionX by 71.6% during the 4th quarter. Vestcor Inc now owns 5,032 shares of the company's stock worth $137,000 after acquiring an additional 2,100 shares during the last quarter. Parallel Advisors LLC boosted its holdings in ChampionX by 27.5% during the 1st quarter. Parallel Advisors LLC now owns 4,672 shares of the company's stock worth $139,000 after acquiring an additional 1,007 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of ChampionX by 82,557.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company's stock worth $157,000 after purchasing an additional 5,779 shares during the period. Institutional investors own 98.99% of the company's stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus boosted their price objective on ChampionX from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, May 5th.

ChampionX Price Performance

Shares of NASDAQ CHX traded down $0.51 during midday trading on Monday, hitting $25.63. 1,789,943 shares of the company's stock were exchanged, compared to its average volume of 2,813,661. ChampionX Corporation has a 12-month low of $21.92 and a 12-month high of $35.94. The company has a current ratio of 2.25, a quick ratio of 1.62 and a debt-to-equity ratio of 0.31. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 5.11 and a beta of 1.49. The business's fifty day moving average price is $25.23 and its two-hundred day moving average price is $27.06.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. ChampionX had a return on equity of 19.25% and a net margin of 8.20%. The business had revenue of $864.46 million during the quarter, compared to analyst estimates of $900.59 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. ChampionX's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts forecast that ChampionX Corporation will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a $0.095 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.48%. ChampionX's dividend payout ratio (DPR) is 25.17%.

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.