Cactus, Inc. (NYSE:WHD) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stock position in Cactus, Inc. by 22.0%, now owning approximately 257,200 shares worth $11.79 million.
• Analysts have adjusted their price targets on Cactus shares, with JPMorgan Chase reducing its target from $52.00 to $50.00 and assigning a "neutral" rating.
• Cactus announced an increase in its quarterly dividend to $0.14, from the previous $0.13, effective for shareholders of record as of August 29th.

Federated Hermes Inc. lessened its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 22.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 257,200 shares of the company's stock after selling 72,400 shares during the period. Federated Hermes Inc. owned about 0.32% of Cactus worth $11,787,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WHD. Pacer Advisors Inc. lifted its position in shares of Cactus by 10,002.6% in the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock worth $20,993,000 after purchasing an additional 453,519 shares during the period. First Trust Advisors LP lifted its position in Cactus by 34.6% during the fourth quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock valued at $90,841,000 after acquiring an additional 400,452 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Cactus during the fourth quarter valued at approximately $16,377,000. Point72 Asset Management L.P. purchased a new stake in Cactus during the fourth quarter valued at approximately $14,285,000. Finally, Tudor Investment Corp ET AL lifted its position in Cactus by 487.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company's stock valued at $16,473,000 after acquiring an additional 234,191 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WHD shares. Barclays reissued an "overweight" rating and set a $52.00 target price (down previously from $53.00) on shares of Cactus in a research report on Monday. Stifel Nicolaus decreased their price target on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. decreased their price target 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.

Cactus Stock Performance

Shares of NYSE:WHD traded down $0.88 during midday trading on Wednesday, reaching $39.56. The company's stock had a trading volume of 243,532 shares, compared to its average volume of 719,209. The firm has a market capitalization of $3.16 billion, a PE ratio of 14.90, a P/E/G ratio of 3.63 and a beta of 1.48. Cactus, Inc. has a twelve month low of $33.80 and a twelve month high of $70.01. The stock has a fifty day moving average of $44.54 and a 200 day moving average of $46.67. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01.

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 analysts' consensus estimates of $0.67 by ($0.01). The business had revenue of $273.58 million during 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 was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. On average, equities analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be given a dividend of $0.14 per share. This is a boost from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 29th. Cactus's dividend payout ratio (DPR) is 19.62%.

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.