257,835 Shares in Cactus, Inc. $WHD Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC acquired a new stake in Cactus, Inc. by purchasing 257,835 shares in the second quarter, valued at approximately $11.27 million, which now represents 0.32% of the company.
• Cactus recently declared a quarterly dividend of $0.14 per share, which is an increase from the previous dividend of $0.13 and equates to an annualized yield of 1.5%.
• Analysts have mixed ratings on Cactus, with upgrades and downgrades resulting in an average rating of "Hold" and a price target of $50.75.

Janney Montgomery Scott LLC bought a new stake in Cactus, Inc. (NYSE:WHD - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 257,835 shares of the company's stock, valued at approximately $11,273,000. Janney Montgomery Scott LLC owned about 0.32% of Cactus as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WHD. Millennium Management LLC purchased a new position in Cactus in the first quarter valued at about $28,924,000. Encompass Capital Advisors LLC purchased a new position in Cactus in the first quarter valued at about $27,457,000. Pacer Advisors Inc. boosted its stake in Cactus by 10,002.6% in the first quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock valued at $20,993,000 after acquiring an additional 453,519 shares during the last quarter. Nuveen LLC purchased a new position in Cactus in the first quarter valued at about $11,494,000. Finally, Alliancebernstein L.P. boosted its stake in Cactus by 31.5% in the first quarter. Alliancebernstein L.P. now owns 868,409 shares of the company's stock valued at $39,799,000 after acquiring an additional 208,172 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Cactus from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Zacks Research cut shares of Cactus from a "hold" rating to a "strong sell" rating in a research note on Monday, September 8th. Barclays restated an "overweight" rating and set a $52.00 price target (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Stifel Nicolaus dropped their price target on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Cactus in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $50.75.

Insider Activity at Cactus

In other news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total value of $420,307.04. Following the transaction, the executive vice president owned 11,088 shares of the company's stock, valued at $458,156.16. This represents a 47.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.75% of the stock is owned by insiders.

Cactus Stock Performance

Cactus stock opened at $37.60 on Friday. The firm's 50 day simple moving average is $40.84 and its 200 day simple moving average is $42.07. The company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $3.00 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 3.61 and a beta of 1.48. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The firm had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.The business's revenue was down 5.8% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. As a group, analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, August 29th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from Cactus's previous quarterly dividend of $0.13. Cactus's payout ratio is currently 21.13%.

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.

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