Makaira Partners LLC Lowers Stake in Cactus, Inc. $WHD

Key Points

• Makaira Partners LLC reduced its stake in Cactus, Inc. by 46.4% during the first quarter, holding 237,030 shares after selling 204,934 shares.
• Cactus, Inc. announced a quarterly dividend of $0.14, which is an increase from the previous quarter's dividend of $0.13, representing a dividend yield of 1.3%.
• Analysts have mixed ratings on Cactus, with target price adjustments resulting in a consensus target price of $50.75 and a current average rating of "Hold."

Makaira Partners LLC cut its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 46.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,030 shares of the company's stock after selling 204,934 shares during the quarter. Cactus accounts for approximately 3.6% of Makaira Partners LLC's holdings, making the stock its 10th largest position. Makaira Partners LLC owned approximately 0.30% of Cactus worth $10,863,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Cactus in the first quarter worth approximately $57,000. Financial Harvest LLC bought a new position in shares of Cactus during the 1st quarter valued at $130,000. KBC Group NV lifted its holdings in shares of Cactus by 11.9% during the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock valued at $155,000 after buying an additional 360 shares during the period. Central Pacific Bank Trust Division lifted its holdings in shares of Cactus by 7.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock valued at $164,000 after buying an additional 250 shares during the period. Finally, Hancock Whitney Corp lifted its holdings in shares of Cactus by 7.4% during the 4th quarter. Hancock Whitney Corp now owns 4,009 shares of the company's stock valued at $234,000 after buying an additional 277 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Cactus Price Performance

NYSE:WHD opened at $41.6640 on Tuesday. 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 business's 50-day simple moving average is $43.19 and its two-hundred day simple moving average is $44.43. The stock has a market cap of $3.33 billion, a PE ratio of 15.72, a P/E/G ratio of 3.98 and a beta of 1.48. Cactus, Inc. has a 52 week low of $33.80 and a 52 week high of $70.01.

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 business had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. Cactus's revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 earnings per share. As a group, analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. 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. Cactus's payout ratio is presently 19.62%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WHD shares. JPMorgan Chase & Co. lowered their price target on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Barclays reiterated an "overweight" rating and set a $52.00 target price (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. Stifel Nicolaus lowered their target price on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded Cactus from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Cactus presently has an average rating of "Hold" and a consensus target price of $50.75.

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.

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