Caxton Associates LLP Takes $427,000 Position in Cactus, Inc. $WHD

Key Points

• Caxton Associates LLP has acquired a new position in Cactus, Inc. (NYSE: WHD) by purchasing 9,320 shares valued at approximately $427,000.
• Several institutional investors have increased their stakes in Cactus, with an overall 85.11% of the stock currently owned by hedge funds and other institutional investors.
• Cactus recently announced a quarterly dividend increase to $0.14 per share, reflecting a 1.4% dividend yield and demonstrating the company's ongoing commitment to returning value to shareholders.

Caxton Associates LLP acquired a new stake in Cactus, Inc. (NYSE:WHD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,320 shares of the company's stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in shares of Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock valued at $47,000 after purchasing an additional 543 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Cactus in the 1st quarter valued at approximately $57,000. Financial Harvest LLC purchased a new position in shares of Cactus in the 1st quarter valued at approximately $130,000. KBC Group NV grew its stake 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 purchasing an additional 360 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its stake 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 purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company's stock.

Cactus Price Performance

Cactus stock traded up $1.08 during trading hours on Thursday, hitting $41.32. The stock had a trading volume of 736,322 shares, compared to its average volume of 586,074. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 3.80 and a beta of 1.53. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01. The stock's fifty day moving average is $41.89 and its two-hundred day moving average is $42.55.

Cactus (NYSE:WHD - Get Free Report) last posted its earnings results 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). The firm had revenue of $273.58 million during 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 firm's revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. As a group, analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.4%. 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. Cactus's dividend payout ratio is currently 21.13%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WHD. Barclays reiterated an "overweight" rating and issued a $52.00 target price (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their price objective on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Zacks Research lowered Cactus from a "hold" rating to a "strong sell" rating in a report on Monday, September 8th. Stifel Nicolaus dropped their price objective on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Finally, Wall Street Zen raised Cactus from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Cactus currently has a consensus rating of "Hold" and an average price target of $50.75.

Insiders Place Their Bets

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total value of $420,307.04. Following the sale, the executive vice president owned 11,088 shares of the company's stock, valued at approximately $458,156.16. This represents a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.75% 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.