Point72 Asset Management L.P. Purchases New Stake in Cactus, Inc. (NYSE:WHD)

Point72 Asset Management L.P. bought a new position in shares of Cactus, Inc. (NYSE:WHD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 244,776 shares of the company's stock, valued at approximately $14,285,000. Point72 Asset Management L.P. owned approximately 0.31% of Cactus at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WHD. Vanguard Group Inc. boosted its position in shares of Cactus by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company's stock worth $448,247,000 after acquiring an additional 147,395 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cactus by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company's stock worth $105,308,000 after purchasing an additional 45,821 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in Cactus by 0.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,797,489 shares of the company's stock valued at $104,901,000 after purchasing an additional 9,884 shares in the last quarter. Capital International Investors boosted its holdings in Cactus by 14.8% in the fourth quarter. Capital International Investors now owns 1,686,858 shares of the company's stock valued at $98,445,000 after purchasing an additional 218,004 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Cactus by 34.6% in the fourth quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock valued at $90,841,000 after purchasing an additional 400,452 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Stock Performance

Cactus stock traded down $1.48 during midday trading on Wednesday, hitting $41.01. 479,933 shares of the company's stock were exchanged, compared to its average volume of 796,576. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 5.13 and a beta of 1.50. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01. The firm's 50 day simple moving average is $41.31 and its 200 day simple moving average is $53.88.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm had revenue of $280.32 million during the quarter, compared to the consensus estimate of $272.22 million. During the same period in the prior year, the business earned $0.75 EPS. The firm's revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 2nd will be given a $0.13 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.27%. Cactus's dividend payout ratio (DPR) is 18.51%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WHD shares. Barclays lowered their target price on shares of Cactus from $54.00 to $51.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of Cactus from $54.00 to $52.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their price objective on Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Cactus currently has an average rating of "Hold" and a consensus price target of $52.33.

About Cactus

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.