Y Intercept Hong Kong Ltd Makes New $277,000 Investment in Cactus, Inc. (NYSE:WHD)

Key Points

• Y Intercept Hong Kong Ltd acquired 6,051 shares of Cactus, Inc. in a recent purchase valued at approximately $277,000, as reported in a 13F filing with the SEC.
• Institutional investors collectively own 85.11% of Cactus's stock, with several large investors making recent purchases, highlighting strong investor interest in the company.
• Cactus recently increased its quarterly dividend from $0.13 to $0.14 per share, reflecting a 1.20% dividend yield, which demonstrates the company's commitment to returning value to shareholders.

Y Intercept Hong Kong Ltd bought a new stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,051 shares of the company's stock, valued at approximately $277,000.

Other large investors also recently modified their holdings of the company. Oarsman Capital Inc. bought a new position in Cactus in the fourth quarter valued at $26,000. Meeder Asset Management Inc. bought a new position in shares of Cactus during the 4th quarter valued at about $76,000. Financial Harvest LLC purchased a new position in shares of Cactus during the 1st quarter valued at about $130,000. KBC Group NV lifted its position in Cactus by 11.9% in the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after buying an additional 360 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in Cactus by 7.5% in the first quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WHD shares. Barclays cut their price objective on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday, June 20th. Stifel Nicolaus decreased their price objective on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th.

Cactus Trading Down 6.2%

WHD traded down $2.61 during trading on Friday, hitting $39.70. 1,222,798 shares of the stock traded hands, compared to its average volume of 547,781. The firm has a market capitalization of $3.17 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 3.72 and a beta of 1.48. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.47. The firm has a 50-day moving average of $44.61 and a 200 day moving average of $47.11.

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). Cactus had a return on equity of 17.34% and a net margin of 16.19%. The firm had revenue of $273.58 million for the quarter, compared to analysts' expectations of $280.28 million. During the same quarter in the prior year, the company posted $0.81 earnings per share. The business's revenue for the quarter was down 5.8% on a year-over-year basis. Equities research analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be issued a dividend of $0.14 per share. This is a boost from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. Cactus's dividend payout ratio is currently 19.62%.

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.