Emerald Mutual Fund Advisers Trust Reduces Stock Position in Cactus, Inc. (NYSE:WHD)

Emerald Mutual Fund Advisers Trust reduced its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 18.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,407 shares of the company's stock after selling 28,747 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.16% of Cactus worth $5,702,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Diversify Wealth Management LLC lifted its holdings in Cactus by 34.1% in the first quarter. Diversify Wealth Management LLC now owns 16,513 shares of the company's stock worth $757,000 after buying an additional 4,196 shares during the period. Xponance Inc. raised its holdings in Cactus by 5.7% in the 1st quarter. Xponance Inc. now owns 5,405 shares of the company's stock worth $248,000 after acquiring an additional 291 shares during the last quarter. VELA Investment Management LLC raised its holdings in Cactus by 96.5% in the 1st quarter. VELA Investment Management LLC now owns 64,282 shares of the company's stock worth $2,946,000 after acquiring an additional 31,564 shares during the last quarter. Principal Financial Group Inc. raised its stake in Cactus by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock valued at $16,750,000 after buying an additional 8,164 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Cactus during the 1st quarter valued at $447,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WHD has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Stifel Nicolaus cut their price objective on shares of Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Barclays cut their price objective on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a research report on Friday, June 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $52.40.

Cactus Stock Performance

NYSE WHD opened at $45.92 on Friday. The stock has a market capitalization of $3.67 billion, a PE ratio of 16.34, a P/E/G ratio of 3.95 and a beta of 1.48. The business has a 50 day simple moving average of $43.88 and a two-hundred day simple moving average of $48.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.47. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $280.32 million during the quarter, compared to analysts' expectations of $272.22 million. Cactus had a return on equity of 18.99% and a net margin of 16.78%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. On average, research analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.13%. The ex-dividend date was Monday, June 2nd. Cactus's dividend payout ratio is presently 18.51%.

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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