Cactus, Inc. $WHD Shares Acquired 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 raised its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 3.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 185,369 shares of the company's stock after acquiring an additional 7,000 shares during the period. Ceredex Value Advisors LLC owned 0.23% of Cactus worth $8,495,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Cactus during the 1st quarter valued at $57,000. Financial Harvest LLC acquired a new stake in Cactus during the first quarter worth about $130,000. KBC Group NV increased its stake in Cactus by 11.9% during the first quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after acquiring an additional 360 shares during the last quarter. Central Pacific Bank Trust Division raised 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 worth $164,000 after purchasing an additional 250 shares during the period. Finally, Vise Technologies Inc. acquired a new position in shares of Cactus in the 4th quarter valued at about $254,000. Institutional investors and hedge funds own 85.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Cactus from a "sell" rating to a "hold" rating in a report on Saturday. Stifel Nicolaus dropped their target price on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Barclays restated an "overweight" rating and issued a $52.00 price target (down previously from $53.00) on shares of Cactus in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $50.75.

Cactus Stock Up 0.1%

NYSE WHD traded up $0.05 during mid-day trading on Monday, reaching $41.95. 563,273 shares of the company's stock traded hands, compared to its average volume of 665,251. The company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01. The company has a fifty day simple moving average of $42.88 and a 200-day simple moving average of $43.92. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 3.95 and a beta of 1.53.

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

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be paid a $0.14 dividend. This is a boost from Cactus's previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. Cactus's dividend payout ratio (DPR) is currently 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.