Y Intercept Hong Kong Ltd Acquires Shares of 6,051 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 Cactus, Inc. (NYSE:WHD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,051 shares of the company's stock, valued at approximately $277,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State of Tennessee Department of Treasury raised its stake in shares of Cactus by 0.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 35,828 shares of the company's stock valued at $2,091,000 after acquiring an additional 177 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Cactus by 1.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,382 shares of the company's stock valued at $606,000 after acquiring an additional 180 shares during the period. Central Pacific Bank Trust Division raised its stake in shares of Cactus by 7.5% in the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock valued at $164,000 after acquiring an additional 250 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Cactus by 5.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,133 shares of the company's stock worth $300,000 after buying an additional 269 shares during the period. Finally, Hancock Whitney Corp increased its stake in Cactus by 7.4% during the 4th quarter. Hancock Whitney Corp now owns 4,009 shares of the company's stock worth $234,000 after buying an additional 277 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Stock Down 6.2%

NYSE WHD traded down $2.61 on Friday, hitting $39.70. 1,222,798 shares of the stock were exchanged, compared to its average volume of 721,859. The company has a quick ratio of 3.47, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01. The company has a market cap of $3.17 billion, a PE ratio of 14.98, a PEG ratio of 4.12 and a beta of 1.48. The company has a 50-day moving average price of $44.64 and a 200-day moving average price of $47.25.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Cactus had a return on equity of 17.65% and a net margin of 16.19%. The firm had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. During the same quarter last year, the firm earned $0.81 EPS. The company's revenue was down 5.8% on a year-over-year basis. Sell-side analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. This is a positive change from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio (DPR) is currently 19.62%.

Analyst Upgrades and Downgrades

WHD has been the topic of several recent research reports. Barclays cut their target price on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating on the stock in a research note on Friday, June 20th. Stifel Nicolaus cut their target price on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. cut their target price on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th.

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.