Jupiter Asset Management Ltd. Purchases Shares of 18,590 Cactus, Inc. (NYSE:WHD)

Key Points

• Jupiter Asset Management Ltd. has acquired 18,590 shares of Cactus, Inc., valued at approximately $852,000, reflecting growing institutional interest in the company.
• Cactus, Inc. has recently reported a Q2 earnings miss with earnings per share of $0.66, slightly below the consensus estimate of $0.67, along with a revenue decrease of 5.8% year-over-year.
• The company has announced an increase in its quarterly dividend from $0.13 to $0.14, indicating a 1.4% yield, with a payout ratio of 19.62%.

Jupiter Asset Management Ltd. acquired a new stake in Cactus, Inc. (NYSE:WHD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 18,590 shares of the company's stock, valued at approximately $852,000.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Cactus by 2.3% during the first quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock valued at $16,750,000 after buying an additional 8,164 shares during the period. KBC Group NV boosted its stake in Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company's stock valued at $155,000 after acquiring an additional 360 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Cactus by 535.8% during the 1st quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock valued at $661,000 after acquiring an additional 12,146 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Cactus during the 1st quarter worth approximately $447,000. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of Cactus during the 1st quarter worth approximately $2,586,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Barclays reaffirmed an "overweight" rating and set a $52.00 price target (down previously from $53.00) on shares of Cactus in a research report on Monday. Finally, Stifel Nicolaus decreased their price objective on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a report on Friday, August 1st.

Cactus Stock Performance

WHD traded down $0.67 on Friday, hitting $38.36. The company's stock had a trading volume of 340,285 shares, compared to its average volume of 719,292. Cactus, Inc. has a 12 month low of $33.80 and a 12 month high of $70.01. The firm has a market cap of $3.06 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 3.62 and a beta of 1.48. 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 company's 50 day simple moving average is $44.44 and its 200-day simple moving average is $46.45.

Cactus (NYSE:WHD - Get Free Report) last posted 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 company had revenue of $273.58 million during 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 earned $0.81 earnings per share. Analysts forecast that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The business 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. This is a boost from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 29th. Cactus's dividend payout ratio (DPR) is currently 19.62%.

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.