Water Island Capital LLC Trims Stake in ChampionX Co. (NASDAQ:CHX)

Water Island Capital LLC lessened its stake in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 1.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,116,624 shares of the company's stock after selling 21,857 shares during the period. ChampionX accounts for about 3.3% of Water Island Capital LLC's investment portfolio, making the stock its 12th biggest holding. Water Island Capital LLC owned approximately 0.59% of ChampionX worth $30,361,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in CHX. Jones Financial Companies Lllp raised its position in shares of ChampionX by 153.2% during the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company's stock valued at $25,000 after buying an additional 559 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in ChampionX by 1,051.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company's stock worth $51,000 after purchasing an additional 1,725 shares in the last quarter. R Squared Ltd bought a new position in shares of ChampionX during the 4th quarter valued at about $103,000. Vestcor Inc grew its position in shares of ChampionX by 71.6% during the fourth quarter. Vestcor Inc now owns 5,032 shares of the company's stock valued at $137,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of ChampionX by 82,557.1% in the fourth 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 last quarter. Institutional investors own 98.99% of the company's stock.

ChampionX Price Performance

CHX stock traded up $0.84 during trading on Thursday, hitting $25.53. 1,604,109 shares of the company's stock traded hands, compared to its average volume of 2,523,021. The business has a fifty day simple moving average of $28.23 and a 200 day simple moving average of $29.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 15.45 and a beta of 1.81. ChampionX Co. has a 52 week low of $21.92 and a 52 week high of $37.06.

ChampionX (NASDAQ:CHX - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. As a group, research analysts expect that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX's payout ratio is currently 23.03%.

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.