Cubist Systematic Strategies LLC Acquires 124,096 Shares of Cactus, Inc. $WHD

Key Points

• Cubist Systematic Strategies LLC increased its stake in Cactus, Inc. by 621.3% during the first quarter, now owning approximately 0.18% of the company valued at $6.6 million.
• Cactus recently announced a dividend increase from $0.13 to $0.14 per share, payable on September 18th, with a current yield of 1.4%.
• The company's stock currently holds a P/E ratio of 15.22, with recent earnings per share reported at $0.66, slightly missing analysts' expectations.

Cubist Systematic Strategies LLC raised its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 621.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,068 shares of the company's stock after purchasing an additional 124,096 shares during the quarter. Cubist Systematic Strategies LLC owned 0.18% of Cactus worth $6,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Cactus by 2.3% in the first quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock valued at $16,750,000 after purchasing an additional 8,164 shares in the last quarter. KBC Group NV raised its position in shares of Cactus by 11.9% during the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after acquiring an additional 360 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Cactus by 482.7% in the 1st 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 during the last quarter. SG Americas Securities LLC raised its holdings 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 worth $661,000 after acquiring an additional 12,146 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Cactus in the first quarter worth about $376,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WHD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Barclays restated an "overweight" rating and issued a $52.00 price target (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Wall Street Zen raised Cactus from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Stifel Nicolaus cut their target price on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Two research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $50.75.

Cactus Stock Performance

Cactus stock traded down $0.94 during midday trading on Monday, hitting $41.85. 400,586 shares of the company's stock were exchanged, compared to its average volume of 711,346. 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 12-month low of $33.80 and a 12-month high of $70.01. The firm's 50 day simple moving average is $42.66 and its 200 day simple moving average is $43.28. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 4.02 and a beta of 1.53.

Cactus (NYSE:WHD - Get Free Report) last announced 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 analyst estimates of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. The company's quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Equities research analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

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

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.