Fort Washington Investment Advisors Inc. OH Sells 155,910 Shares of Cactus, Inc. $WHD

Key Points

• Fort Washington Investment Advisors reduced its stake in Cactus, Inc. by 25.3% in Q1, selling 155,910 shares and ending with 460,878 shares valued at about $21.8 million.
• Cactus reported better-than-expected Q1 earnings, posting $0.70 EPS versus estimates of $0.65 and revenue of $388.35 million, up 38.5% year over year.
• The company also announced a quarterly dividend of $0.14 per share, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $63.40.

Fort Washington Investment Advisors Inc. OH cut its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 25.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,878 shares of the company's stock after selling 155,910 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.58% of Cactus worth $21,832,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Cactus by 67.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company's stock worth $25,000 after purchasing an additional 259 shares in the last quarter. Aster Capital Management DIFC Ltd raised its stake in Cactus by 73.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock valued at $34,000 after purchasing an additional 314 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in Cactus in the third quarter valued at about $33,000. Advisors Asset Management Inc. lifted its position in Cactus by 113.8% during the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after purchasing an additional 543 shares during the period. Finally, Huntington National Bank lifted its position in Cactus by 55.4% during the third quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $43,000 after purchasing an additional 390 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Cactus Stock Down 0.0%

Shares of NYSE WHD opened at $51.98 on Monday. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 49.04, a PEG ratio of 2.04 and a beta of 1.37. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $64.30. The stock has a 50-day moving average price of $56.94 and a two-hundred day moving average price of $53.14.

Cactus (NYSE:WHD - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The firm had revenue of $388.35 million during the quarter, compared to analysts' expectations of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share. As a group, analysts forecast that Cactus, Inc. will post 2.88 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were given a $0.14 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. Cactus's dividend payout ratio (DPR) is currently 52.83%.

Wall Street Analyst Weigh In

WHD has been the topic of several recent analyst reports. Barclays raised their target price on shares of Cactus from $62.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Weiss Ratings raised shares of Cactus from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Wall Street Zen lowered shares of Cactus from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Piper Sandler boosted their price objective on shares of Cactus from $69.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Finally, Citigroup boosted their price objective on shares of Cactus from $65.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.40.

Insiders Place Their Bets

In related news, Director Alan Semple sold 10,206 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total transaction of $577,863.72. Following the sale, the director owned 29,444 shares of the company's stock, valued at $1,667,119.28. This trade represents a 25.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Y. Mcgovern sold 12,000 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the sale, the director owned 15,990 shares in the company, valued at $904,554.30. This represents a 42.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 12.91% 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.

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