Jacobs Levy Equity Management Inc. Invests $1.13 Million in Cactus, Inc. $WHD

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. purchased a new position in shares of Cactus, Inc. (NYSE:WHD - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,739 shares of the company's stock, valued at approximately $1,134,000.

Several other large investors also recently made changes to their positions in WHD. Encompass Capital Advisors LLC bought a new stake in shares of Cactus during the 1st quarter worth about $27,457,000. Pacer Advisors Inc. boosted its stake in shares of Cactus by 10,002.6% during the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock worth $20,993,000 after acquiring an additional 453,519 shares in the last quarter. Nuveen LLC bought a new stake in shares of Cactus during the 1st quarter worth about $11,494,000. Point72 Asset Management L.P. bought a new stake in shares of Cactus during the 4th quarter worth about $14,285,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Cactus by 31.5% during the 1st quarter. Alliancebernstein L.P. now owns 868,409 shares of the company's stock worth $39,799,000 after acquiring an additional 208,172 shares in the last quarter. Institutional investors own 85.11% of the company's stock.

Wall Street Analyst Weigh In

WHD has been the subject of several research analyst reports. Stifel Nicolaus cut their price objective on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Barclays reissued an "overweight" rating and set a $52.00 price objective (down previously from $53.00) on shares of Cactus in a research report on Monday, August 4th. Zacks Research cut Cactus from a "hold" rating to a "strong sell" rating in a research report on Monday. Wall Street Zen raised Cactus from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, JPMorgan Chase & Co. cut their price objective on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Two 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. According to data from MarketBeat.com, Cactus presently has a consensus rating of "Hold" and a consensus target price of $50.75.

Insider Buying and Selling

In other news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction on 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 of the company's stock, valued at $458,156.16. This represents a 47.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 13.75% of the company's stock.

Cactus Trading Up 0.7%

WHD stock opened at $41.74 on Friday. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01. The firm has a market cap of $3.33 billion, a P/E ratio of 15.75, a P/E/G ratio of 3.91 and a beta of 1.53. The business's 50 day moving average is $42.39 and its 200-day moving average is $43.02. 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 (NYSE:WHD - Get Free Report) last released 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). Cactus had a net margin of 16.19% and a return on equity of 17.34%. The business had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. During the same period in the prior year, the business earned $0.81 earnings per share. The company's revenue for the quarter was down 5.8% on a year-over-year basis. Equities analysts anticipate 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 given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, August 29th. This is a positive change from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio is 21.13%.

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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