Leeward Investments LLC MA Reduces Stake in ChampionX Co. (NASDAQ:CHX)

Leeward Investments LLC MA has made adjustments to its holdings in ChampionX Co. (NASDAQ:CHX) by reducing its position by 1.3% during the last quarter of the year. As per the latest filing with the Securities and Exchange Commission, the fund now holds 1,053,781 shares of ChampionX after selling 13,808 shares in this period. ChampionX constitutes 1.4% of Leeward Investments LLC MA's overall investment portfolio, ranking as the 12th largest position within the fund. At the conclusion of the most recent reporting period, the value of Leeward's investment in ChampionX was approximately $28,652,000.

Institutional Movements in ChampionX Holdings

Other institutional investors and hedge funds have also been active in adjusting their stakes in ChampionX. For instance, Blue Trust Inc. significantly increased its holdings by 442.4% during the third quarter, bringing its total to 1,329 shares valued at about $44,000, following the acquisition of an additional 1,084 shares. In the fourth quarter, Venturi Wealth Management LLC raised its stake in ChampionX by 1,051.8%, now owning 1,889 shares worth $51,000 after buying 1,725 additional shares. Similarly, R Squared Ltd began a new investment in ChampionX, valued at $103,000. KBC Group NV enhanced its holdings in ChampionX by 18.3% during the third quarter, and Ieq Capital LLC also entered a new position in ChampionX valued at $228,000. Overall, institutional investors and hedge funds hold roughly 98.99% of ChampionX's stock.

ChampionX Stock Performance

As for the stock's performance, shares of ChampionX were trading at $29.69. The stock has seen a range between a 12-month low of $25.57 and a high of $39.95. Currently, ChampionX has a market capitalization of $5.66 billion, a price-to-earnings (PE) ratio of 17.99, and a beta of 2.35. Financial metrics also show a debt-to-equity ratio of 0.32, a current ratio of 1.99, and a quick ratio of 1.36. The stock's moving averages show a 50-day average at $28.52 and a 200-day average at $29.74.

Dividend Announcement from ChampionX

ChampionX recently announced a quarterly dividend set to be paid on April 25. Shareholders of record as of April 4 will receive a dividend of $0.095, translating to an annualized dividend of $0.38 and an annual yield of 1.28%. The ex-dividend date is also April 4, and the current dividend payout ratio for ChampionX stands at 23.03%.

Analyst Insights

In terms of analyst coverage, Citigroup has decreased its price target for ChampionX from $45.00 to $40.00 while maintaining a "buy" rating for the stock.

About ChampionX Corporation

ChampionX Corporation specializes in providing solutions like chemistry, artificial lift systems, and engineered equipment to oil and gas companies across the globe. Its operations are segmented into four categories: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.

Investments, Stocks, ChampionX