Copeland Capital Management LLC Decreases Position in ChampionX Co. (NASDAQ:CHX)

Copeland Capital Management LLC lowered its position in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 847,202 shares of the company's stock after selling 35,864 shares during the quarter. Copeland Capital Management LLC owned about 0.44% of ChampionX worth $23,035,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of ChampionX by 442.4% during the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company's stock worth $44,000 after purchasing an additional 1,084 shares in the last quarter. UMB Bank n.a. grew its stake in ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company's stock valued at $68,000 after acquiring an additional 882 shares during the period. R Squared Ltd bought a new stake in shares of ChampionX during the fourth quarter valued at approximately $103,000. KBC Group NV raised its position in shares of ChampionX by 18.3% during the third quarter. KBC Group NV now owns 5,827 shares of the company's stock worth $176,000 after purchasing an additional 903 shares during the period. Finally, Quantinno Capital Management LP bought a new position in shares of ChampionX in the 3rd quarter worth $265,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

ChampionX Stock Down 0.7 %

ChampionX stock traded down $0.20 during midday trading on Wednesday, hitting $29.11. 2,647,523 shares of the stock were exchanged, compared to its average volume of 3,029,223. ChampionX Co. has a 52-week low of $25.57 and a 52-week high of $39.95. The business's 50-day moving average price is $28.60 and its 200-day moving average price is $30.07. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 18.08 and a beta of 2.35.

ChampionX (NASDAQ:CHX - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. On average, research analysts expect that ChampionX Co. will post 1.71 EPS for the current fiscal year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 3rd were paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, January 3rd. ChampionX's payout ratio is currently 23.60%.

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.