GSA Capital Partners LLP Raises Stake in Cactus, Inc. (NYSE:WHD)

Key Points

• GSA Capital Partners LLP increased its stake in Cactus, Inc. by 394.0%, owning 18,022 shares valued at $826,000 following the purchase of 14,374 shares in the first quarter.
• Wall Street analysts have recently revised their price objectives for Cactus, with Barclays lowering theirs from $54.00 to $53.00 and JPMorgan from $52.00 to $50.00, indicating varying degrees of performance expectations.
• Cactus has announced an increase in its quarterly dividend from $0.13 to $0.14, representing an annualized payment of $0.56 and a dividend yield of 1.4%.

GSA Capital Partners LLP lifted its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 394.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 18,022 shares of the company's stock after acquiring an additional 14,374 shares during the period. GSA Capital Partners LLP's holdings in Cactus were worth $826,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WHD. LPL Financial LLC grew its stake in Cactus by 25.2% during the 4th quarter. LPL Financial LLC now owns 12,689 shares of the company's stock valued at $741,000 after purchasing an additional 2,553 shares during the last quarter. Norges Bank purchased a new stake in shares of Cactus in the fourth quarter worth about $11,193,000. Pictet Asset Management Holding SA boosted its stake in shares of Cactus by 23.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 10,508 shares of the company's stock worth $613,000 after buying an additional 2,025 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Cactus by 1.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,382 shares of the company's stock worth $606,000 after buying an additional 180 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Cactus by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company's stock worth $105,308,000 after buying an additional 45,821 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company's stock.

Cactus Price Performance

Shares of WHD stock traded down $0.88 during trading hours on Wednesday, hitting $39.56. 243,532 shares of the company's stock were exchanged, compared to its average volume of 719,209. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The firm has a market cap of $3.16 billion, a P/E ratio of 14.90, a P/E/G ratio of 3.63 and a beta of 1.48. The firm has a 50 day moving average of $44.54 and a two-hundred day moving average of $46.67. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01.

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

Cactus Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WHD shares. Barclays restated an "overweight" rating and issued a $52.00 target price (down previously from $53.00) on shares of Cactus in a research note on Monday. Stifel Nicolaus reduced their target price on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. reduced their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th.

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.