Cactus, Inc. $WHD Shares Bought by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors Inc. increased its holdings in Cactus, Inc. by 26.8%, owning nearly 499,291 shares valued at approximately $21.8 million as of the latest reporting period.
• Cactus recently declared a quarterly dividend increase to $0.14 per share, up from $0.13, with a dividend yield of 1.3%.
• Analysts have mixed ratings on Cactus, with a consensus rating of "Hold" and a target price averaging $50.75 following recent changes in analyst ratings.

Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 26.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 499,291 shares of the company's stock after purchasing an additional 105,490 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.63% of Cactus worth $21,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WHD. Principal Financial Group Inc. lifted its position in shares of Cactus by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock valued at $16,750,000 after buying an additional 8,164 shares in the last quarter. KBC Group NV raised its position 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 period. Jane Street Group LLC lifted its holdings in Cactus by 482.7% during the first quarter. Jane Street Group LLC now owns 238,879 shares of the company's stock valued at $10,948,000 after purchasing an additional 197,887 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Cactus by 535.8% in the first quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock valued at $661,000 after purchasing an additional 12,146 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Cactus during the first quarter worth about $376,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Zacks Research cut Cactus from a "hold" rating to a "strong sell" rating in a report on Monday, September 8th. Wall Street Zen raised Cactus from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Barclays reiterated an "overweight" rating and set a $52.00 price target (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. 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 investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cactus currently has an average rating of "Hold" and a consensus target price of $50.75.

Cactus Price Performance

WHD stock opened at $41.51 on Monday. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 3.92 and a beta of 1.53. The business has a fifty day moving average of $41.45 and a two-hundred day moving average of $42.25.

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

Cactus Increases Dividend

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

Insider Activity

In other news, EVP William D. Marsh sold 10,172 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total value of $420,307.04. Following the transaction, the executive vice president directly owned 11,088 shares in the company, valued at approximately $458,156.16. This represents a 47.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 16.84% of the company's stock.

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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