Jane Street Group LLC Acquires 197,887 Shares of Cactus, Inc. $WHD

Key Points

• Jane Street Group LLC significantly increased its stake in Cactus, Inc. by 482.7%, acquiring an additional 197,887 shares, bringing its total ownership to 238,879 shares worth approximately $10.9 million.
• Cactus, Inc. has announced a quarterly dividend increase from $0.13 to $0.14, representing an annualized dividend of $0.56 and a yield of 1.4%.
• Despite reporting quarterly earnings of $0.66 per share, Cactus missed analyst expectations, leading to a revenue drop of 5.8% compared to the previous year.

Jane Street Group LLC lifted its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 482.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 238,879 shares of the company's stock after purchasing an additional 197,887 shares during the period. Jane Street Group LLC owned about 0.30% of Cactus worth $10,948,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock valued at $47,000 after buying an additional 543 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Cactus in the 1st quarter valued at $57,000. Financial Harvest LLC purchased a new position in shares of Cactus in the 1st quarter valued at $130,000. KBC Group NV increased its stake in Cactus by 11.9% during the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after buying an additional 360 shares during the period. Finally, Central Pacific Bank Trust Division increased its stake in Cactus by 7.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after buying an additional 250 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Cactus Stock Performance

NYSE:WHD traded down $1.67 during midday trading on Friday, reaching $39.55. The stock had a trading volume of 1,595,557 shares, compared to its average volume of 603,678. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01. The firm's fifty day simple moving average is $41.76 and its 200-day simple moving average is $42.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. The stock has a market capitalization of $3.16 billion, a P/E ratio of 14.93, a PEG ratio of 3.89 and a beta of 1.53.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data 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 return on equity of 17.34% and a net margin of 16.19%.Cactus's revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. On average, equities research analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 29th were given a dividend of $0.14 per share. 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. The ex-dividend date of this dividend was Friday, August 29th. Cactus's payout ratio is currently 21.13%.

Insider Activity at Cactus

In related news, EVP William D. Marsh sold 10,172 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total value of $420,307.04. Following the transaction, the executive vice president directly owned 11,088 shares in the company, valued at approximately $458,156.16. This represents a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 13.75% of the stock is currently 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.