Dynamic Technology Lab Private Ltd Has $862,000 Holdings in Cactus, Inc. $WHD

Key Points

• Dynamic Technology Lab Private Ltd increased its stake in Cactus, Inc. by 230.4%, acquiring an additional 13,110 shares and bringing its total holdings to 18,800 shares worth $862,000.
• Cactus, Inc. reported a quarterly EPS of $0.66, missing analysts' expectations, with a revenue of $273.58 million, down 5.8% year-over-year.
• The company has announced a quarterly dividend increase from $0.13 to $0.14 per share, yielding approximately 1.3% annually.

Dynamic Technology Lab Private Ltd lifted its position in Cactus, Inc. (NYSE:WHD - Free Report) by 230.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,800 shares of the company's stock after acquiring an additional 13,110 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Cactus were worth $862,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Millennium Management LLC acquired a new position in shares of Cactus in the 1st quarter worth approximately $28,924,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Cactus by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company's stock worth $1,819,000 after acquiring an additional 1,733 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cactus in the 1st quarter worth about $1,134,000. Encompass Capital Advisors LLC bought a new stake in Cactus in the 1st quarter valued at about $27,457,000. Finally, Alliancebernstein L.P. boosted its stake in Cactus by 31.5% during the 1st quarter. Alliancebernstein L.P. now owns 868,409 shares of the company's stock valued at $39,799,000 after purchasing an additional 208,172 shares during the period. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Price Performance

NYSE:WHD traded down $1.72 during mid-day trading on Friday, reaching $40.00. 560,876 shares of the stock were exchanged, compared to its average volume of 585,326. The business has a fifty day moving average price of $42.29 and a 200 day moving average price of $42.90. The firm has a market capitalization of $3.19 billion, a PE ratio of 15.09, a PEG ratio of 3.94 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 company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.The firm's revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.56 annualized dividend and a yield of 1.4%. This is an increase from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio (DPR) is currently 21.13%.

Insider Transactions at Cactus

In related news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction dated 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 sale, the executive vice president directly 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 this hyperlink. Corporate insiders own 13.75% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on WHD. Zacks Research lowered shares of Cactus from a "hold" rating to a "strong sell" rating in a research note on Monday, September 8th. 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. Wall Street Zen upgraded Cactus from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Barclays reissued an "overweight" rating and set a $52.00 price target (down from $53.00) on shares of Cactus in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Cactus currently has an average rating of "Hold" and a consensus target price of $50.75.

About Cactus

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.