Campbell & CO Investment Adviser LLC Makes New $1.89 Million Investment in Cactus, Inc. $WHD

Key Points

• Campbell & CO Investment Adviser LLC has acquired 41,164 shares of Cactus, Inc. (NYSE: WHD), worth approximately $1.887 million, marking their entry into the stock.
• Cactus, Inc. has recently increased its quarterly dividend to $0.14, reflecting an annualized yield of 1.3%, which is a positive change from the previous dividend.
• The stock's performance report showed a net earnings miss for the last quarter, with earnings per share reported at $0.66, below the expected $0.67, alongside a 5.8% revenue decline year-over-year.

Campbell & CO Investment Adviser LLC purchased a new stake in Cactus, Inc. (NYSE:WHD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 41,164 shares of the company's stock, valued at approximately $1,887,000. Campbell & CO Investment Adviser LLC owned approximately 0.05% of Cactus at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WHD. Dimensional Fund Advisors LP increased its stake in Cactus by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,238,420 shares of the company's stock valued at $72,271,000 after purchasing an additional 43,237 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Cactus by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 39,985 shares of the company's stock valued at $2,334,000 after buying an additional 2,243 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Cactus by 1,477.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,962 shares of the company's stock valued at $348,000 after buying an additional 5,584 shares during the last quarter. State of Tennessee Department of Treasury grew its holdings in shares of Cactus by 0.5% during the fourth quarter. State of Tennessee Department of Treasury now owns 35,828 shares of the company's stock valued at $2,091,000 after buying an additional 177 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Cactus by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,854 shares of the company's stock valued at $2,793,000 after buying an additional 5,070 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of analyst reports. Barclays reiterated an "overweight" rating and set a $52.00 price objective (down from $53.00) on shares of Cactus in a report on Monday, August 4th. JPMorgan Chase & Co. reduced their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of Cactus from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Stifel Nicolaus reduced their price objective on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $50.75.

Cactus Stock Up 0.1%

Cactus stock traded up $0.05 during midday trading on Friday, hitting $41.95. 563,273 shares of the stock were exchanged, compared to its average volume of 665,251. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 3.95 and a beta of 1.53. The business's 50-day moving average price is $42.88 and its 200-day moving average price is $43.92. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $273.58 million during 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 in the prior year, the firm posted $0.81 EPS. On average, research analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be given a $0.14 dividend. This is a positive change from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. Cactus's payout ratio is presently 21.13%.

Cactus Company Profile

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.