Cactus, Inc. $WHD Position Reduced by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC decreased its stake in Cactus, Inc. by 4.8%, selling 14,571 shares to end up with 291,151 shares worth approximately $13.34 million.
• Analysts have mixed views on Cactus, with JPMorgan lowering its price target from $52.00 to $50.00 and setting a "neutral" rating, while Barclays maintains an "overweight" rating at a price target of $52.00.
• Cactus, Inc. increased its quarterly dividend to $0.14 per share, with an annualized yield of 1.3%, reflecting a rise from the previous dividend of $0.13.

Great Lakes Advisors LLC cut its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 291,151 shares of the company's stock after selling 14,571 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.37% of Cactus worth $13,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Cactus by 2.3% during the first quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock worth $16,750,000 after buying an additional 8,164 shares in the last quarter. KBC Group NV grew its holdings in Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company's stock valued at $155,000 after purchasing an additional 360 shares during the period. Jane Street Group LLC grew its holdings in Cactus by 482.7% in the first quarter. Jane Street Group LLC now owns 238,879 shares of the company's stock valued at $10,948,000 after purchasing an additional 197,887 shares during the period. SG Americas Securities LLC grew its holdings in Cactus by 535.8% in the first quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock valued at $661,000 after purchasing an additional 12,146 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in Cactus in the first quarter valued at approximately $376,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Trading Down 4.1%

WHD stock traded down $1.72 during midday trading on Friday, reaching $40.00. 560,876 shares of the company's stock traded hands, compared to its average volume of 581,567. The company has a market capitalization of $3.19 billion, a P/E ratio of 15.09, a PEG ratio of 3.77 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01. The business has a 50-day moving average price of $42.29 and a two-hundred day moving average price of $42.73.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. The company's quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Equities research analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be paid 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 dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. Cactus's payout ratio is 21.13%.

Insider Activity

In related news, EVP William D. Marsh sold 10,172 shares of the business's 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 transaction, the executive vice president owned 11,088 shares in the company, valued at approximately $458,156.16. The trade was a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 16.84% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WHD. Stifel Nicolaus lowered their target price 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. JPMorgan Chase & Co. lowered their target price 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. Barclays restated an "overweight" rating and issued a $52.00 target price (down from $53.00) on shares of Cactus in a report on Monday, August 4th. Zacks Research downgraded shares of Cactus from a "hold" rating to a "strong sell" rating in a report on Monday, September 8th. Finally, Wall Street Zen upgraded shares of Cactus from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Cactus has a consensus rating of "Hold" and an average price target of $50.75.

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.