Cactus, Inc. $WHD Shares Bought by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. raised its position in Cactus, Inc. by 7.1%, acquiring an additional 195,496 shares, bringing their total ownership to approximately 3.70% worth $135.1 million.
• Cactus recently announced a dividend increase to $0.14 per share, with a payout ratio of 21.13%, effective for shareholders on record by August 29th.
• Despite recent evaluations, Cactus has a consensus rating of "Hold," with a price target ranging from $50.00 to $52.00 among analysts.

T. Rowe Price Investment Management Inc. lifted its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 7.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,947,835 shares of the company's stock after buying an additional 195,496 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.70% of Cactus worth $135,100,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Cactus by 12.1% during the 1st quarter. Wellington Management Group LLP now owns 1,508,103 shares of the company's stock valued at $69,116,000 after buying an additional 162,374 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cactus by 3.6% during the fourth 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 in the last quarter. Northern Trust Corp increased its holdings in Cactus by 10.4% in the 4th quarter. Northern Trust Corp now owns 724,891 shares of the company's stock valued at $42,305,000 after acquiring an additional 68,473 shares during the last quarter. Pacer Advisors Inc. lifted its stake 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 in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Cactus by 8.2% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 393,801 shares of the company's stock worth $18,048,000 after purchasing an additional 29,850 shares in the last quarter. Institutional investors own 85.11% of the company's stock.

Analyst Upgrades and Downgrades

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

Cactus Trading Up 7.2%

Shares of NYSE WHD traded up $2.8360 during trading hours on Friday, hitting $42.2560. 661,031 shares of the company traded hands, compared to its average volume of 793,915. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 3.98 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. The company's 50 day moving average price is $43.28 and its 200 day moving average price is $44.56. 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 released its earnings results 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 company had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. During the same period in the prior year, the firm posted $0.81 EPS. The business's revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be issued a $0.14 dividend. 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 positive change from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio (DPR) is currently 19.62%.

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.