Nuveen Asset Management LLC Has $31.39 Million Stake in ChampionX Co. (NASDAQ:CHX)

Nuveen Asset Management LLC lessened its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,154,592 shares of the company's stock after selling 49,547 shares during the quarter. Nuveen Asset Management LLC owned about 0.61% of ChampionX worth $31,393,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Maven Securities LTD acquired a new position in shares of ChampionX during the fourth quarter valued at approximately $4,049,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of ChampionX by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,637 shares of the company's stock valued at $2,954,000 after acquiring an additional 4,200 shares during the period. LMR Partners LLP acquired a new position in shares of ChampionX during the fourth quarter valued at approximately $10,345,000. Janus Henderson Group PLC increased its stake in shares of ChampionX by 27.8% during the fourth quarter. Janus Henderson Group PLC now owns 370,166 shares of the company's stock valued at $10,065,000 after acquiring an additional 80,566 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of ChampionX during the fourth quarter valued at approximately $549,000. Institutional investors and hedge funds own 98.99% of the company's stock.

ChampionX Price Performance

NASDAQ:CHX traded up $0.24 during trading hours on Tuesday, reaching $24.72. 2,685,853 shares of the company's stock were exchanged, compared to its average volume of 2,712,202. The company has a market capitalization of $4.73 billion, a P/E ratio of 14.98 and a beta of 1.52. ChampionX Co. has a 12 month low of $21.92 and a 12 month high of $35.94. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The business's 50-day simple moving average is $25.77 and its two-hundred day simple moving average is $27.96.

ChampionX (NASDAQ:CHX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.09. The firm had revenue of $864.46 million during the quarter, compared to analysts' expectations of $900.59 million. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. Sell-side analysts expect that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, July 3rd. ChampionX's payout ratio is 25.17%.

Wall Street Analysts Forecast Growth

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

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.