8,130 Shares in Cactus, Inc. $WHD Bought by Hudson Edge Investment Partners Inc.

Key Points

• Hudson Edge Investment Partners Inc. acquired 8,130 shares of Cactus, Inc. (NYSE: WHD), valued at approximately $355,000, during the 2nd quarter, contributing to a high institutional ownership of 85.11% of the company's stock.
• Cactus, Inc. reported Q2 earnings of $0.66 per share, falling short of the $0.67 consensus estimate, with revenues of $273.58 million, which was below analysts’ expectations of $280.28 million.
• The company recently increased its quarterly dividend to $0.14 per share, marking a slight increase from $0.13, while maintaining a dividend payout ratio of 21.13%.

Hudson Edge Investment Partners Inc. bought a new position in Cactus, Inc. (NYSE:WHD - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,130 shares of the company's stock, valued at approximately $355,000.

Several other hedge funds also recently bought and sold shares of the company. Millennium Management LLC bought a new position in shares of Cactus during the 1st quarter valued at about $28,924,000. Encompass Capital Advisors LLC bought a new position in shares of Cactus during the 1st quarter valued at about $27,457,000. Pacer Advisors Inc. boosted its holdings in shares of Cactus by 10,002.6% during the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock valued at $20,993,000 after purchasing an additional 453,519 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Cactus during the 2nd quarter valued at about $11,273,000. Finally, Nuveen LLC bought a new position in shares of Cactus during the 1st quarter valued at about $11,494,000. Institutional investors own 85.11% of the company's stock.

Cactus Stock Down 4.7%

Shares of NYSE WHD opened at $38.19 on Friday. The firm's 50-day moving average price is $41.01 and its 200-day moving average price is $42.13. 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 stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 3.78 and a beta of 1.48. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01.

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

Cactus Increases Dividend

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms have commented on WHD. Zacks Research downgraded shares of Cactus from a "hold" rating to a "strong sell" rating in a report on Monday, September 8th. Barclays reissued an "overweight" rating and set a $52.00 price objective (down previously from $53.00) on shares of Cactus in a report on Monday, August 4th. Stifel Nicolaus dropped 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. Finally, Wall Street Zen raised shares of Cactus from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $50.75.

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.

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