Cactus, Inc. $WHD Position Increased by Jane Street Group LLC

Key Points

• Jane Street Group LLC increased its stake in Cactus, Inc. by 482.7%, owning 238,879 shares valued at approximately $10.95 million.
• Cactus recently increased its quarterly dividend from $0.13 to $0.14, reflecting a yield of 1.3% and a payout ratio of 21.13%.
• Despite missing analysts' earnings estimates, Cactus reported a net margin of 16.19% and a revenue of $273.58 million for the last quarter, down 5.8% compared to the previous year.

Jane Street Group LLC increased its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 482.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 238,879 shares of the company's stock after buying an additional 197,887 shares during the quarter. Jane Street Group LLC owned about 0.30% of Cactus worth $10,948,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of WHD. Pacer Advisors Inc. grew its stake in shares of 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 buying an additional 453,519 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Cactus in the first quarter valued at about $11,494,000. Point72 Asset Management L.P. acquired a new stake in shares of Cactus in the fourth quarter valued at about $14,285,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Cactus by 7.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,947,835 shares of the company's stock valued at $135,100,000 after buying an additional 195,496 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Cactus by 12.1% during the 1st quarter. Wellington Management Group LLP now owns 1,508,103 shares of the company's stock valued at $69,116,000 after purchasing an additional 162,374 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WHD shares. Barclays restated an "overweight" rating and set a $52.00 price objective (down previously from $53.00) on shares of Cactus in a research note on Monday, August 4th. JPMorgan Chase & Co. lowered their price objective on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Stifel Nicolaus lowered their price objective 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, Wall Street Zen upgraded Cactus from a "sell" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cactus has a consensus rating of "Hold" and a consensus target price of $50.75.

Cactus Stock Performance

NYSE:WHD traded down $1.04 during trading hours on Wednesday, reaching $40.35. 600,210 shares of the stock were exchanged, compared to its average volume of 712,606. 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 50 day simple moving average of $42.78 and a 200-day simple moving average of $43.77. Cactus, Inc. has a 52 week low of $33.80 and a 52 week high of $70.01. The stock has a market capitalization of $3.22 billion, a P/E ratio of 15.22, a P/E/G ratio of 3.95 and a beta of 1.53.

Cactus (NYSE:WHD - Get Free Report) last released its 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). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The firm had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. During the same period in the prior year, the business earned $0.81 EPS. The company's quarterly revenue was down 5.8% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be issued a $0.14 dividend. This is a positive change from Cactus's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. Cactus's dividend payout ratio (DPR) 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.