Magnetar Financial LLC Buys 7,655 Shares of Cactus, Inc. $WHD

Key Points

• Magnetar Financial LLC increased its stake in Cactus, Inc. by 156.6% during the first quarter, acquiring an additional 7,655 shares, bringing its total holdings to 12,544 shares valued at $575,000.
• Several institutional investors have also modified their positions in Cactus, with 85.11% of the stock currently owned by institutional investors.
• Cactus has announced a quarterly dividend increase to $0.14 per share, effective September 18th, representing an annual yield of 1.3% and a payout ratio of 21.13%.

Magnetar Financial LLC grew its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 156.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,544 shares of the company's stock after acquiring an additional 7,655 shares during the period. Magnetar Financial LLC's holdings in Cactus were worth $575,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Cactus by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,854 shares of the company's stock worth $2,793,000 after purchasing an additional 5,070 shares during the last quarter. Northern Trust Corp increased its stake in shares of Cactus by 10.4% in the fourth quarter. Northern Trust Corp now owns 724,891 shares of the company's stock valued at $42,305,000 after purchasing an additional 68,473 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Cactus in the fourth quarter valued at approximately $292,000. Ameriprise Financial Inc. increased its stake in shares of Cactus by 0.8% in the fourth quarter. Ameriprise Financial Inc. now owns 292,946 shares of the company's stock valued at $17,096,000 after purchasing an additional 2,238 shares during the period. Finally, Brevan Howard Capital Management LP increased its stake in shares of Cactus by 100.4% in the fourth quarter. Brevan Howard Capital Management LP now owns 38,095 shares of the company's stock valued at $2,223,000 after purchasing an additional 19,086 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Stock Performance

Cactus stock traded down $1.04 on Wednesday, reaching $40.35. 600,210 shares of the stock were exchanged, compared to its average volume of 624,452. The stock has a market cap of $3.22 billion, a PE ratio of 15.22, a PEG ratio of 3.95 and a beta of 1.53. 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, Inc. has a twelve month low of $33.80 and a twelve month high of $70.01. The firm has a fifty day moving average price of $42.72 and a two-hundred day moving average price of $43.75.

Cactus (NYSE:WHD - Get Free Report) last released its 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). The firm had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.The firm's revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. Sell-side analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio (DPR) is presently 21.13%.

Analysts Set New Price Targets

WHD has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Cactus from a "sell" rating to a "hold" rating in a research note on Saturday. Barclays reaffirmed an "overweight" rating and issued a $52.00 price objective (down previously from $53.00) on shares of Cactus in a research note on Monday, August 4th. Stifel Nicolaus decreased their price objective on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $50.75.

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.