AlphaQuest LLC Acquires 12,357 Shares of Cactus, Inc. $WHD

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 raised its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 724.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,063 shares of the company's stock after acquiring an additional 12,357 shares during the period. AlphaQuest LLC's holdings in Cactus were worth $645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Tennessee Department of Treasury lifted its stake in shares of Cactus by 0.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 35,828 shares of the company's stock worth $2,091,000 after purchasing an additional 177 shares during the period. Central Pacific Bank Trust Division lifted its stake in shares of Cactus by 7.5% in the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after purchasing an additional 250 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Cactus by 5.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,133 shares of the company's stock worth $300,000 after purchasing an additional 269 shares during the period. Hancock Whitney Corp lifted its stake in shares of Cactus by 7.4% in the 4th quarter. Hancock Whitney Corp now owns 4,009 shares of the company's stock worth $234,000 after purchasing an additional 277 shares during the period. Finally, Xponance Inc. lifted its stake in shares of Cactus by 5.7% in the 1st quarter. Xponance Inc. now owns 5,405 shares of the company's stock worth $248,000 after purchasing an additional 291 shares during the period. Institutional investors own 85.11% of the company's stock.

Wall Street Analyst Weigh In

WHD has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Wall Street Zen raised shares of Cactus from a "sell" rating to a "hold" rating in a report on Saturday. Barclays reaffirmed an "overweight" rating and set a $52.00 price target (down previously from $53.00) on shares of Cactus in a report on Monday, August 4th. Finally, Stifel Nicolaus lowered their price target on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Two equities 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $50.75.

Cactus Price Performance

Shares of Cactus stock traded up $0.05 on Friday, hitting $41.95. 563,273 shares of the company traded hands, compared to its average volume of 665,251. The stock has a market capitalization of $3.35 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 3.95 and a beta of 1.53. 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 business has a 50-day simple moving average of $42.88 and a 200 day simple moving average of $43.92.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) 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 quarter in the previous year, the business earned $0.81 EPS. The company's quarterly revenue was down 5.8% on a year-over-year basis. Research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Cactus's previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 29th. Cactus's dividend payout ratio (DPR) is presently 21.13%.

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.