Hudson Edge Investment Partners Inc. Sells 2,133 Shares of ChampionX Co. (NASDAQ:CHX)

Hudson Edge Investment Partners Inc. trimmed its position in shares of ChampionX Co. (NASDAQ:CHX) by 12.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,450 shares of the company’s stock after selling 2,133 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in ChampionX were worth $480,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of ChampionX by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company’s stock worth $585,167,000 after acquiring an additional 62,967 shares during the period. Brown Advisory Inc. lifted its stake in ChampionX by 1.8% during the fourth quarter. Brown Advisory Inc. now owns 6,364,676 shares of the company’s stock worth $185,912,000 after purchasing an additional 110,956 shares during the period. Congress Asset Management Co. MA boosted its holdings in ChampionX by 2.1% during the first quarter. Congress Asset Management Co. MA now owns 3,991,117 shares of the company’s stock valued at $143,241,000 after purchasing an additional 80,626 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of ChampionX by 2.6% in the 1st quarter. Bessemer Group Inc. now owns 3,842,425 shares of the company’s stock valued at $137,905,000 after purchasing an additional 99,100 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of ChampionX by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,433,718 shares of the company’s stock worth $100,305,000 after buying an additional 349,035 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of NASDAQ:CHX traded down $0.51 during trading on Friday, reaching $28.86. The stock had a trading volume of 1,379,388 shares, compared to its average volume of 1,890,251. The stock has a market capitalization of $5.50 billion, a PE ratio of 15.68, a P/E/G ratio of 1.25 and a beta of 2.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The business’s 50-day moving average price is $32.23 and its 200 day moving average price is $33.13.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.11). The business had revenue of $893.30 million during the quarter, compared to the consensus estimate of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 EPS. As a group, equities analysts predict that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 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 1.32%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s dividend payout ratio is currently 20.65%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, ChampionX has an average rating of “Moderate Buy” and an average price target of $39.00.

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.