Hedeker Wealth LLC Takes Position in Cactus, Inc. (NYSE:WHD)

Key Points

• Hedeker Wealth LLC acquired 29,059 shares of Cactus, Inc. in Q1 2023, totaling approximately $1.33 million, reflecting increasing interest from institutional investors.
• Cactus, Inc. reported $0.73 earnings per share for the last quarter, surpassing analysts' expectations, while its quarterly revenue rose by 2.3% year-over-year to $280.32 million.
• The company's recent dividend of $0.13 per share indicates a yield of 1.13%, with a payout ratio of 18.51% as of June 2nd.

Hedeker Wealth LLC purchased a new stake in Cactus, Inc. (NYSE:WHD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 29,059 shares of the company's stock, valued at approximately $1,332,000.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Cactus by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock valued at $16,750,000 after purchasing an additional 8,164 shares during the period. KBC Group NV grew its stake in shares of Cactus by 11.9% in the 1st 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. SG Americas Securities LLC grew its position in Cactus by 535.8% during the 1st quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock worth $661,000 after acquiring an additional 12,146 shares during the last quarter. Axiom Investors LLC DE grew its position in Cactus by 26.0% during the 4th quarter. Axiom Investors LLC DE now owns 149,317 shares of the company's stock worth $8,714,000 after acquiring an additional 30,851 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Cactus during the 4th quarter worth approximately $3,410,000. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Stock Performance

Cactus stock traded down $0.22 during midday trading on Friday, reaching $46.11. 342,917 shares of the company's stock were exchanged, compared to its average volume of 466,750. Cactus, Inc. has a 52 week low of $33.80 and a 52 week high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.47 and a current ratio of 4.85. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 4.07 and a beta of 1.48. The stock's 50-day simple moving average is $44.26 and its 200 day simple moving average is $47.73.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Cactus had a net margin of 16.78% and a return on equity of 18.99%. The company had revenue of $280.32 million during the quarter, compared to the consensus estimate of $272.22 million. During the same period in the previous year, the business earned $0.75 earnings per share. The firm's quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were given a dividend of $0.13 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.52 annualized dividend and a yield of 1.13%. Cactus's dividend payout ratio is currently 18.51%.

Analyst Ratings Changes

Several research analysts have issued reports on WHD shares. Barclays reduced their price objective on Cactus from $54.00 to $53.00 and set an "overweight" rating on the stock in a report on Friday, June 20th. Stifel Nicolaus reduced their price objective on Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th.

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.