Paradice Investment Management LLC Sells 536,286 Shares of ChampionX Co. (NASDAQ:CHX)

Paradice Investment Management LLC reduced its holdings in ChampionX Co. (NASDAQ:CHX - Free Report) by 31.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,178,766 shares of the company's stock after selling 536,286 shares during the quarter. ChampionX accounts for 4.3% of Paradice Investment Management LLC's holdings, making the stock its 8th biggest position. Paradice Investment Management LLC owned about 0.61% of ChampionX worth $34,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fiera Capital Corp boosted its position in shares of ChampionX by 0.5% in the 4th quarter. Fiera Capital Corp now owns 1,331,283 shares of the company's stock valued at $38,887,000 after purchasing an additional 7,057 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of ChampionX by 37.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company's stock worth $89,000 after buying an additional 831 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of ChampionX by 82.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,356 shares of the company's stock worth $478,000 after acquiring an additional 7,401 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ChampionX by 11.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,433,718 shares of the company's stock valued at $100,305,000 after acquiring an additional 349,035 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of ChampionX in the 4th quarter valued at approximately $213,000. 98.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHX has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of ChampionX from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, March 27th. Barclays raised their price objective on ChampionX from $39.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, April 4th. Finally, Piper Sandler upped their target price on ChampionX from $32.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.33.

ChampionX Stock Up 0.5 %

Shares of CHX traded up $0.17 during midday trading on Friday, reaching $34.36. 1,048,711 shares of the stock were exchanged, compared to its average volume of 1,931,602. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 1.08 and a beta of 2.45. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. ChampionX Co. has a 12-month low of $24.98 and a 12-month high of $39.95. The firm has a 50 day simple moving average of $35.13 and a 200-day simple moving average of $31.28.

ChampionX (NASDAQ:CHX - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. The business had revenue of $922.14 million during the quarter, compared to analyst estimates of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. Research analysts forecast that ChampionX Co. will post 1.95 EPS for the current year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, July 5th. ChampionX's dividend payout ratio is 20.65%.

Insider Buying and Selling

In related news, insider William Jr. O'dell sold 27,178 shares of the firm's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the transaction, the insider now directly owns 57,748 shares in the company, valued at approximately $2,078,928. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.38% of the company's stock.

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.