Water Island Capital LLC Sells 21,857 Shares of ChampionX Co. (NASDAQ:CHX)

Water Island Capital LLC trimmed its holdings in shares of ChampionX Co. (NASDAQ:CHX - Free Report) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,116,624 shares of the company's stock after selling 21,857 shares during the quarter. ChampionX accounts for about 3.3% of Water Island Capital LLC's portfolio, making the stock its 12th largest position. Water Island Capital LLC owned 0.59% of ChampionX worth $30,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in ChampionX in the fourth quarter valued at approximately $74,032,000. Calamos Advisors LLC boosted its stake in shares of ChampionX by 470.4% in the 4th quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company's stock valued at $40,635,000 after purchasing an additional 1,232,500 shares during the last quarter. Birnam Oak Advisors LP acquired a new stake in shares of ChampionX during the fourth quarter worth $17,037,000. Oddo BHF Asset Management Sas bought a new position in ChampionX during the third quarter worth $15,075,000. Finally, Alpine Associates Management Inc. raised its stake in ChampionX by 63.5% during the fourth quarter. Alpine Associates Management Inc. now owns 1,182,716 shares of the company's stock worth $32,158,000 after buying an additional 459,200 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Trading Down 0.3 %

CHX traded down $0.08 during trading on Tuesday, reaching $24.40. 2,885,199 shares of the stock traded hands, compared to its average volume of 2,517,888. The stock's 50-day moving average is $28.31 and its 200 day moving average is $29.07. ChampionX Co. has a 12 month low of $21.92 and a 12 month high of $37.06. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $4.66 billion, a PE ratio of 14.79 and a beta of 1.81.

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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 the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. Equities analysts anticipate that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, April 4th. ChampionX's payout ratio 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.