Cactus, Inc. $WHD Shares Bought by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors LLC increased its stake in Cactus, Inc. by 3.9%, now owning approximately 185,369 shares worth about $8.5 million.
• Cactus, Inc. will pay a quarterly dividend of $0.14 on September 18th, marking a rise from the previous dividend of $0.13, representing a yield of 1.4%.
• The company's stock is currently down 2.2% and reported Q2 earnings of $0.66 per share, missing analysts' estimates by $0.01.

Ceredex Value Advisors LLC grew its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,369 shares of the company's stock after purchasing an additional 7,000 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.23% of Cactus worth $8,495,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Cactus in the first quarter valued at about $57,000. Financial Harvest LLC acquired a new position in shares of Cactus in the 1st quarter worth approximately $130,000. KBC Group NV increased its holdings in shares of Cactus by 11.9% in the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock valued at $155,000 after acquiring an additional 360 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings 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 valued at $164,000 after acquiring an additional 250 shares during the last quarter. Finally, Portside Wealth Group LLC raised its position in shares of Cactus by 12.2% during the 1st quarter. Portside Wealth Group LLC now owns 4,576 shares of the company's stock valued at $210,000 after acquiring an additional 496 shares in the last quarter. Institutional investors own 85.11% of the company's stock.

Cactus Stock Down 2.2%

Cactus stock opened at $40.74 on Wednesday. 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 one year low of $33.80 and a one year high of $70.01. The company has a 50-day simple moving average of $43.09 and a 200-day simple moving average of $44.41. The firm has a market capitalization of $3.25 billion, a P/E ratio of 15.37, a P/E/G ratio of 3.92 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last posted its 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 firm had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. During the same period in the previous year, the firm earned $0.81 earnings per share. The company's revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be issued a $0.14 dividend. 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 1.4%. Cactus's dividend payout ratio is currently 19.62%.

Analyst Ratings Changes

WHD has been the subject of a number of research reports. Wall Street Zen downgraded shares of Cactus from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Barclays reaffirmed an "overweight" rating and issued a $52.00 price target (down from $53.00) on shares of Cactus in a report on Monday, August 4th. 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 report on Friday, August 1st. Finally, JPMorgan Chase & Co. cut their target price 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. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average 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.

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