Paradice Investment Management LLC Has $22.63 Million Stake in ChampionX Co. (NASDAQ:CHX)

Paradice Investment Management LLC cut its stake in shares of ChampionX Co. (NASDAQ:CHX) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 832,397 shares of the company’s stock after selling 63,045 shares during the quarter. ChampionX makes up 4.5% of Paradice Investment Management LLC’s portfolio, making the stock its 10th largest holding. Paradice Investment Management LLC owned about 0.44% of ChampionX worth $22,633,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in CHX. State Street Corp boosted its position in shares of ChampionX by 1.7% during the third quarter. State Street Corp now owns 7,422,097 shares of the company’s stock worth $223,776,000 after buying an additional 122,622 shares during the period. Geode Capital Management LLC boosted its position in shares of ChampionX by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock worth $139,239,000 after buying an additional 63,119 shares during the period. Westchester Capital Management LLC boosted its position in shares of ChampionX by 67.8% during the third quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock worth $85,268,000 after buying an additional 1,142,628 shares during the period. Van ECK Associates Corp boosted its position in shares of ChampionX by 0.3% during the fourth quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company’s stock worth $71,764,000 after buying an additional 9,056 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ChampionX by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,623,131 shares of the company’s stock worth $79,087,000 after buying an additional 84,875 shares during the period. 98.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ChampionX Stock Performance

CHX opened at $29.44 on Tuesday. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 17.84 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 1.20. ChampionX Co. has a 1-year low of $25.57 and a 1-year high of $39.95. The business has a 50 day moving average price of $28.43 and a two-hundred day moving average price of $29.76.

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

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 3rd were given a $0.095 dividend. The ex-dividend date was Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.29%. ChampionX’s dividend payout ratio (DPR) is 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.