Hotchkis & Wiley Capital Management LLC Boosts Stake 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 raised its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 168,280 shares of the company's stock after acquiring an additional 6,580 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.21% of Cactus worth $7,712,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WHD. Dimensional Fund Advisors LP raised its holdings in Cactus by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,238,420 shares of the company's stock valued at $72,271,000 after acquiring an additional 43,237 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Cactus by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 39,985 shares of the company's stock valued at $2,334,000 after acquiring an additional 2,243 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Cactus by 1,477.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,962 shares of the company's stock valued at $348,000 after acquiring an additional 5,584 shares during the last quarter. State of Tennessee Department of Treasury raised its holdings in 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 last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Cactus by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,854 shares of the company's stock valued at $2,793,000 after acquiring an additional 5,070 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Stock Up 0.1%

Cactus stock traded up $0.05 during trading on Friday, reaching $41.95. 563,273 shares of the company's stock were exchanged, compared to its average volume of 698,227. The company's 50-day moving average is $42.88 and its two-hundred day moving average is $44.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 3.95 and a beta of 1.48.

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

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be given a dividend of $0.14 per share. This is a positive change from Cactus's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. Cactus's dividend payout ratio is currently 19.62%.

Analysts Set New Price Targets

Several analysts have recently issued reports on WHD shares. Stifel Nicolaus lowered their price objective on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, August 1st. JPMorgan Chase & Co. lowered their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Barclays reissued an "overweight" rating and set a $52.00 price objective (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Finally, Wall Street Zen raised shares of Cactus from a "sell" rating to a "hold" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.