24,739 Shares in Cactus, Inc. $WHD Purchased by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. invested approximately $1.13 million in Cactus, Inc. by purchasing 24,739 shares during the 1st quarter.
• Institutional investors hold a significant majority of 85.11% of Cactus's stock, with Encompass Capital Advisors recently acquiring a $27.46 million stake.
• Cactus recently raised its quarterly dividend from $0.13 to $0.14 per share, reflecting a positive 1.3% yield for investors.

Jacobs Levy Equity Management Inc. bought a new position in shares of Cactus, Inc. (NYSE:WHD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,739 shares of the company's stock, valued at approximately $1,134,000.

Several other large investors have also added to or reduced their stakes in WHD. Encompass Capital Advisors LLC acquired a new position in Cactus during the first quarter worth $27,457,000. Pacer Advisors Inc. lifted its stake in Cactus by 10,002.6% in the first quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock valued at $20,993,000 after acquiring an additional 453,519 shares during the last quarter. Nuveen LLC acquired a new stake in Cactus in the first quarter valued at $11,494,000. Point72 Asset Management L.P. acquired a new stake in Cactus in the fourth quarter valued at $14,285,000. Finally, Alliancebernstein L.P. lifted its stake in Cactus by 31.5% in the first quarter. Alliancebernstein L.P. now owns 868,409 shares of the company's stock valued at $39,799,000 after acquiring an additional 208,172 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Stock Down 0.5%

WHD stock traded down $0.22 during midday trading on Wednesday, reaching $40.24. 510,123 shares of the company's stock traded hands, compared to its average volume of 592,927. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 3.82 and a beta of 1.53. The firm's fifty day moving average price is $41.98 and its 200-day moving average price is $42.61. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 52 week low of $33.80 and a 52 week high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 EPS 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 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 revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 EPS. As a group, sell-side analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Cactus's previous quarterly dividend of $0.13. Cactus's payout ratio is presently 21.13%.

Analyst Ratings Changes

A number of analysts have commented on WHD shares. Barclays reiterated an "overweight" rating and issued a $52.00 price target (down previously from $53.00) on shares of Cactus in a research note on Monday, August 4th. JPMorgan Chase & Co. cut their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Zacks Research cut shares of Cactus from a "hold" rating to a "strong sell" rating in a research note on Monday, September 8th. Stifel Nicolaus cut their price target on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Cactus from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $50.75.

Insider Transactions at Cactus

In other Cactus news, EVP William D. Marsh sold 10,172 shares of Cactus stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total transaction of $420,307.04. Following the transaction, the executive vice president directly owned 11,088 shares of the company's stock, valued at $458,156.16. The trade was a 47.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.75% of the stock is owned by corporate insiders.

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.