Aigen Investment Management LP Makes New Investment in Cactus, Inc. (NYSE:WHD)

Key Points

• Aigen Investment Management LP has acquired a new stake in Cactus, Inc., purchasing 8,209 shares valued at approximately $376,000 in the first quarter.
• Cactus, Inc. reported Q2 earnings of $0.66 EPS, missing estimates of $0.67, while their revenue declined 5.8% year-over-year.
• The company has increased its quarterly dividend from $0.13 to $0.14 per share, representing an annualized yield of 1.4%.

Aigen Investment Management LP purchased a new stake in Cactus, Inc. (NYSE:WHD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,209 shares of the company's stock, valued at approximately $376,000.

Several other large investors have also made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Cactus by 10,002.6% in the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock worth $20,993,000 after purchasing an additional 453,519 shares during the last quarter. First Trust Advisors LP lifted its holdings in Cactus by 34.6% in the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock worth $90,841,000 after purchasing an additional 400,452 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Cactus in the 4th quarter worth approximately $16,377,000. Point72 Asset Management L.P. acquired a new stake in Cactus in the 4th quarter worth approximately $14,285,000. Finally, Tudor Investment Corp ET AL lifted its holdings in Cactus by 487.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company's stock worth $16,473,000 after purchasing an additional 234,191 shares during the last quarter. Institutional investors own 85.11% of the company's stock.

Cactus Price Performance

Cactus stock traded down $0.74 during mid-day trading on Friday, hitting $39.70. 636,061 shares of the company were exchanged, compared to its average volume of 765,656. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $43.94 and a 200 day moving average of $45.48. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01. The company has a market capitalization of $3.17 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 3.80 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data 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). Cactus had a return on equity of 17.34% and a net margin of 16.19%. The company had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. During the same quarter in the prior year, the company earned $0.81 earnings per share. The business's revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The firm 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 dividend of $0.14 per share. The ex-dividend date is Friday, August 29th. This is a boost from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. Cactus's dividend payout ratio (DPR) is currently 21.13%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WHD shares. JPMorgan Chase & Co. reduced 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. Stifel Nicolaus cut their price target on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a report on Friday, August 1st. Barclays reiterated an "overweight" rating and set a $52.00 price target (down from $53.00) on shares of Cactus in a report on Monday, August 4th. Finally, Wall Street Zen lowered Cactus from a "hold" rating to a "sell" rating in a report on Saturday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $50.75.

Cactus 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.