Cactus, Inc. $WHD Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its stake in Cactus, Inc. by 724.3%, acquiring a total of 14,063 shares valued at approximately $645,000.
• The company recently declared a quarterly dividend of $0.14, representing a 1.3% yield, an increase from the previous dividend of $0.13.
• Cactus, Inc. faced a 5.8% decline in quarterly revenue year-over-year, reporting $273.58 million compared to analyst expectations of $280.28 million.

AlphaQuest LLC boosted its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 724.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,063 shares of the company's stock after purchasing an additional 12,357 shares during the period. AlphaQuest LLC's holdings in Cactus were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WHD. Pacer Advisors Inc. lifted its position in Cactus by 10,002.6% during the first quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock valued at $20,993,000 after purchasing an additional 453,519 shares during the period. Nuveen LLC acquired a new position in Cactus during the first quarter valued at $11,494,000. Point72 Asset Management L.P. acquired a new position in Cactus during the fourth quarter valued at $14,285,000. Tudor Investment Corp ET AL lifted its position in Cactus by 487.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company's stock valued at $16,473,000 after purchasing an additional 234,191 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in Cactus by 7.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,947,835 shares of the company's stock valued at $135,100,000 after purchasing an additional 195,496 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WHD has been the subject of a number of analyst reports. Barclays reiterated an "overweight" rating and issued a $52.00 price objective (down previously from $53.00) on shares of Cactus in a research report on Monday, August 4th. Wall Street Zen lowered shares of Cactus from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. lowered their target price on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Finally, Stifel Nicolaus lowered their target price on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $50.75.

Cactus Trading Down 1.6%

WHD stock opened at $41.6640 on Tuesday. The firm has a market cap of $3.33 billion, a P/E ratio of 15.72, a PEG ratio of 3.98 and a beta of 1.48. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01. The company's 50-day simple moving average is $43.19 and its 200-day simple moving average is $44.43. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last issued 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). The company had revenue of $273.58 million during the quarter, compared to analysts' expectations of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, equities analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be paid a $0.14 dividend. 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%. This is a boost from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio is 19.62%.

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.

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