Cramer Rosenthal Mcglynn LLC Increases Position in Cactus, Inc. $WHD

Key Points

• Cramer Rosenthal Mcglynn LLC increased its stake in Cactus, Inc. by 5.7%, holding 153,206 shares worth $7,021,000 after purchasing an additional 8,226 shares in the first quarter.
• Cactus, Inc. declared a quarterly dividend of $0.14 per share, increasing from $0.13, with a yield of 1.3% and a payout ratio of 21.13%.
• The stock price is currently around $42.26, and analysts have mixed ratings, with a consensus target price of $50.75 for Cactus shares.

Cramer Rosenthal Mcglynn LLC raised its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,206 shares of the company's stock after acquiring an additional 8,226 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned approximately 0.19% of Cactus worth $7,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WHD. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Cactus during the first quarter valued at about $57,000. Financial Harvest LLC bought a new stake in shares of Cactus in the first quarter worth about $130,000. KBC Group NV increased its holdings in shares of Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after purchasing 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 first 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 last quarter. Finally, Portside Wealth Group LLC increased its holdings in shares of Cactus by 12.2% in the first quarter. Portside Wealth Group LLC now owns 4,576 shares of the company's stock worth $210,000 after purchasing an additional 496 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on WHD. Wall Street Zen cut Cactus from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. JPMorgan Chase & Co. reduced their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Stifel Nicolaus reduced 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. Finally, Barclays reaffirmed an "overweight" rating and issued a $52.00 target price (down from $53.00) on shares of Cactus in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $50.75.

Cactus Trading Up 2.5%

NYSE WHD traded up $1.01 during trading hours on Wednesday, hitting $41.74. 572,109 shares of the company were exchanged, compared to its average volume of 765,272. The stock has a 50-day moving average price of $43.02 and a 200 day moving average price of $44.39. 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, Inc. has a 52 week low of $33.80 and a 52 week high of $70.01. The stock has a market cap of $3.33 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 3.83 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The company had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. During the same period in the previous year, the firm earned $0.81 earnings per share. The company's revenue was down 5.8% compared to the same quarter last year. Analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.3%. This is a boost 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 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.