Aigen Investment Management LP Buys New Position 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) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 8,209 shares of the company's stock, valued at approximately $376,000.

Several other hedge funds have also added to or reduced their stakes in the company. CenterBook Partners LP bought a new position in Cactus in the first quarter valued at about $484,000. Jupiter Asset Management Ltd. bought a new position in Cactus in the first quarter valued at about $852,000. GSA Capital Partners LLP boosted its holdings in Cactus by 394.0% in the first quarter. GSA Capital Partners LLP now owns 18,022 shares of the company's stock valued at $826,000 after acquiring an additional 14,374 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Cactus by 26.7% during the first quarter. Mackenzie Financial Corp now owns 11,705 shares of the company's stock worth $536,000 after buying an additional 2,468 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Cactus by 38.5% during the first quarter. TD Asset Management Inc now owns 42,942 shares of the company's stock worth $1,968,000 after buying an additional 11,942 shares during the last quarter. Institutional investors own 85.11% of the company's stock.

Cactus Stock Down 1.8%

Shares of NYSE:WHD traded down $0.74 during trading on Friday, hitting $39.70. 636,061 shares of the company's stock traded hands, compared to its average volume of 765,656. Cactus, Inc. has a 52 week low of $33.80 and a 52 week high of $70.01. 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 company has a market cap of $3.17 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 3.73 and a beta of 1.48. The company has a 50-day moving average price of $43.94 and a 200-day moving average price of $45.37.

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

Cactus Increases Dividend

The firm also recently disclosed 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. This is a boost from Cactus's previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. Cactus's dividend payout ratio (DPR) is presently 19.62%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen cut Cactus from a "hold" rating to a "sell" rating in a report on Saturday. JPMorgan Chase & Co. reduced their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Stifel Nicolaus reduced their target price on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Finally, Barclays restated an "overweight" rating and set a $52.00 target price (down previously from $53.00) on shares of Cactus in a report on Monday, August 4th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock 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.