Fox Run Management L.L.C. Takes Position in Cactus, Inc. $WHD

Key Points

• Fox Run Management L.L.C. acquired a new stake in Cactus, Inc. by purchasing 11,484 shares valued at approximately $526,000 during the first quarter.
• Cactus, Inc. has experienced several analyst downgrades, with Barclays and Stifel Nicolaus lowering their price targets, and Wall Street Zen moving its rating from "hold" to "sell."
• The company recently announced an increased quarterly dividend of $0.14, up from $0.13, representing a $0.56 annualized dividend and a yield of 1.4%.

Fox Run Management L.L.C. bought a new stake in Cactus, Inc. (NYSE:WHD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,484 shares of the company's stock, valued at approximately $526,000.

A number of other large investors also recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in shares of Cactus by 20.3% in the first quarter. Russell Investments Group Ltd. now owns 30,229 shares of the company's stock valued at $1,385,000 after purchasing an additional 5,105 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Cactus by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 211,363 shares of the company's stock valued at $9,687,000 after purchasing an additional 45,272 shares in the last quarter. Nuveen LLC bought a new position in shares of Cactus in the first quarter valued at approximately $11,494,000. Aigen Investment Management LP bought a new position in shares of Cactus in the first quarter valued at approximately $376,000. Finally, CenterBook Partners LP bought a new position in shares of Cactus in the first quarter valued at approximately $484,000. Institutional investors own 85.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays restated an "overweight" rating and issued a $52.00 target price (down previously from $53.00) on shares of Cactus in a report on Monday, August 4th. Stifel Nicolaus cut their price objective on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. JPMorgan Chase & Co. cut their price objective on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, Wall Street Zen cut Cactus from a "hold" rating to a "sell" rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $50.75.

Cactus Stock Down 1.8%

WHD stock opened at $39.70 on Monday. The stock's fifty day simple moving average is $43.94 and its two-hundred day simple moving average is $45.27. 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, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01. The stock has a market cap of $3.17 billion, a P/E ratio of 14.98, a P/E/G ratio of 3.73 and a beta of 1.48.

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

Cactus Increases Dividend

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

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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