Copeland Capital Management LLC Has $27.36 Million Stake in ChampionX Corporation (NASDAQ:CHX)

Copeland Capital Management LLC raised its holdings in ChampionX Corporation (NASDAQ:CHX) by 8.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 918,114 shares of the company’s stock after acquiring an additional 70,912 shares during the period. Copeland Capital Management LLC’s holdings in ChampionX were worth $27,360,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in ChampionX by 123.7% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 246,152 shares of the company’s stock valued at $6,693,000 after buying an additional 136,132 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of ChampionX during the fourth quarter valued at approximately $472,000. Yakira Capital Management Inc. increased its position in shares of ChampionX by 29.9% during the fourth quarter. Yakira Capital Management Inc. now owns 218,290 shares of the company’s stock valued at $5,935,000 after purchasing an additional 50,300 shares during the period. Raymond James Financial Inc. bought a new stake in shares of ChampionX during the fourth quarter valued at approximately $12,080,000. Finally, Silphium Asset Management Ltd increased its position in shares of ChampionX by 88.1% during the fourth quarter. Silphium Asset Management Ltd now owns 366,132 shares of the company’s stock valued at $9,955,000 after purchasing an additional 171,531 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Stock Performance

CHX opened at $24.96 on Friday. The stock has a market cap of $4.78 billion, a PE ratio of 16.53, a P/E/G ratio of 4.86 and a beta of 1.51. The company has a current ratio of 2.25, a quick ratio of 1.62 and a debt-to-equity ratio of 0.31. ChampionX Corporation has a 1 year low of $21.92 and a 1 year high of $35.94. The stock’s 50 day simple moving average is $25.14 and its 200-day simple moving average is $27.14.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The company had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. ChampionX had a return on equity of 19.25% and a net margin of 8.20%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Sell-side analysts forecast that ChampionX Corporation will post 1.92 EPS for the current year.

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, July 3rd. ChampionX’s dividend payout ratio (DPR) is presently 25.17%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus boosted their price objective on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, May 5th.

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.