Hotchkis & Wiley Capital Management LLC Raises Position in Cactus, Inc. $WHD

Key Points

• Hotchkis & Wiley Capital Management LLC acquired an additional 6,580 shares of Cactus, Inc. in Q1 2023, increasing its stake by 4.1% to a total of 168,280 shares worth $7.7 million.
• Cactus recently declared a quarterly dividend of $0.14 per share, up from the previous $0.13, with a payout ratio of 19.62% and a resulting annualized dividend yield of 1.3%.
• Shares of Cactus saw a trading increase of 7.2%, opening at $42.26, with a current ratio of 4.85 and a debt-to-equity ratio of 0.01.

Hotchkis & Wiley Capital Management LLC boosted its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,280 shares of the company's stock after buying an additional 6,580 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.21% of Cactus worth $7,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of WHD. Principal Financial Group Inc. increased its stake in Cactus by 2.3% in the first quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock worth $16,750,000 after purchasing an additional 8,164 shares during the period. KBC Group NV increased its stake in Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after purchasing an additional 360 shares during the period. SG Americas Securities LLC increased its stake in Cactus by 535.8% in the first quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock worth $661,000 after purchasing an additional 12,146 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Cactus in the 1st quarter worth $376,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Cactus in the 1st quarter worth $447,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Stock Up 2.5%

Shares of NYSE:WHD traded up $1.01 on Wednesday, reaching $41.74. The company had a trading volume of 572,109 shares, compared to its average volume of 765,272. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01. The firm's 50 day simple moving average is $43.02 and its 200-day simple moving average is $44.39. The firm has a market capitalization of $3.33 billion, a PE ratio of 15.75, a PEG ratio of 3.83 and a beta of 1.48. The company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Cactus had a net margin of 16.19% and a return on equity of 17.34%. The company had revenue of $273.58 million during the quarter, compared to analysts' expectations of $280.28 million. During the same quarter in the prior year, the business posted $0.81 earnings per share. The company's revenue was down 5.8% compared to the same quarter last year. As a group, analysts expect that Cactus, Inc. will post 3.08 earnings per share 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. The ex-dividend date is Friday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. This is a boost from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio (DPR) is currently 19.62%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WHD shares. Wall Street Zen cut Cactus from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Barclays reiterated an "overweight" rating and issued a $52.00 target price (down from $53.00) on shares of Cactus in a report on Monday, August 4th. JPMorgan Chase & Co. lowered 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. Finally, Stifel Nicolaus lowered their target price on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $50.75.

About Cactus

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.