Jupiter Asset Management Ltd. Purchases New Position in Cactus, Inc. (NYSE:WHD)

Jupiter Asset Management Ltd. purchased a new stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,590 shares of the company's stock, valued at approximately $852,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Cactus by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company's stock valued at $105,308,000 after purchasing an additional 45,821 shares during the last quarter. Capital International Investors increased its position in Cactus by 14.8% in the 4th quarter. Capital International Investors now owns 1,686,858 shares of the company's stock valued at $98,445,000 after acquiring an additional 218,004 shares in the last quarter. First Trust Advisors LP increased its position in Cactus by 34.6% in the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock valued at $90,841,000 after acquiring an additional 400,452 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Cactus by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,238,420 shares of the company's stock valued at $72,271,000 after acquiring an additional 43,237 shares in the last quarter. Finally, Invesco Ltd. increased its position in Cactus by 0.9% in the 4th quarter. Invesco Ltd. now owns 752,707 shares of the company's stock valued at $43,928,000 after acquiring an additional 6,730 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Stock Up 0.2%

Shares of NYSE:WHD opened at $39.78 on Tuesday. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01. The company has a 50 day moving average of $44.57 and a 200-day moving average of $46.72. 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 cap of $3.18 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 3.62 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%. The business had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. During the same quarter in the prior year, the firm earned $0.81 EPS. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. This is a positive change from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio is presently 19.62%.

Analysts Set New Price Targets

WHD has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Friday. Barclays lowered their price objective on shares of Cactus from $53.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th.

About Cactus

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.

Want to see what other hedge funds are holding WHD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cactus, Inc. (NYSE:WHD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.