Leeward Investments LLC MA Cuts Holdings in ChampionX Co. (NASDAQ:CHX)

Leeward Investments LLC MA lowered its position in ChampionX Co. (NASDAQ:CHX) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,053,781 shares of the company’s stock after selling 13,808 shares during the quarter. ChampionX accounts for 1.4% of Leeward Investments LLC MA’s investment portfolio, making the stock its 12th biggest position. Leeward Investments LLC MA owned 0.55% of ChampionX worth $28,652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHX. Blue Trust Inc. boosted its holdings in 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 acquiring an additional 1,084 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in ChampionX by 1,051.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock valued at $51,000 after acquiring an additional 1,725 shares during the last quarter. R Squared Ltd acquired a new position in ChampionX in the fourth quarter valued at $103,000. KBC Group NV boosted its holdings in 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 acquiring an additional 903 shares during the last quarter. Finally, Ieq Capital LLC acquired a new position in ChampionX in the fourth quarter valued at $228,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Trading Down 1.7 %

Shares of CHX opened at $29.69 on Friday. ChampionX Co. has a 12 month low of $25.57 and a 12 month high of $39.95. The stock has a market cap of $5.66 billion, a PE ratio of 17.99 and a beta of 2.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. The stock’s 50-day moving average is $28.52 and its two-hundred day moving average is $29.74.

ChampionX (NASDAQ:CHX) last announced its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (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%. Equities analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The company 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 $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s dividend payout ratio is currently 23.03%.

Analyst Ratings Changes

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

ChampionX Company 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.