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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings 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 worth $47,000 after purchasing an additional 543 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Cactus during the 1st quarter valued at about $57,000. Financial Harvest LLC purchased a new stake in Cactus during the 1st quarter valued at about $130,000. KBC Group NV boosted its holdings in Cactus by 11.9% during the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock valued at $155,000 after acquiring an additional 360 shares during the period. Finally, Central Pacific Bank Trust Division boosted its holdings in Cactus by 7.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock valued at $164,000 after acquiring an additional 250 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.75% of the company's stock.

Wall Street Analysts Forecast Growth

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

Cactus Trading Down 4.1%

NYSE WHD opened at $40.00 on Friday. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. The stock has a 50 day simple moving average of $42.29 and a two-hundred day simple moving average of $42.90. The stock has a market cap of $3.19 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 3.94 and a beta of 1.53.

Cactus (NYSE:WHD - Get Free Report) last released 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 business had revenue of $273.58 million during the quarter, compared to analysts' expectations of $280.28 million. During the same quarter last year, the business posted $0.81 EPS. The company's quarterly revenue was down 5.8% compared to the same quarter last year. On average, analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. This is an increase from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio 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.

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