Makaira Partners LLC Reduces Stock Holdings 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 lessened its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 46.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 237,030 shares of the company's stock after selling 204,934 shares during the period. Cactus makes up about 3.6% of Makaira Partners LLC's holdings, making the stock its 10th biggest position. Makaira Partners LLC owned 0.30% of Cactus worth $10,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in Cactus by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock worth $16,750,000 after acquiring an additional 8,164 shares during the period. KBC Group NV grew its stake in Cactus by 11.9% in 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 in the last quarter. SG Americas Securities LLC boosted its stake in shares of Cactus by 535.8% in the 1st quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock valued at $661,000 after purchasing an additional 12,146 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Cactus in the 1st quarter valued at $376,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Cactus in the 1st quarter valued at $447,000. Institutional investors own 85.11% of the company's stock.

Cactus Trading Up 0.1%

NYSE WHD traded up $0.05 during trading on Friday, hitting $41.95. The company had a trading volume of 563,273 shares, compared to its average volume of 698,227. 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 one year low of $33.80 and a one year high of $70.01. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 3.95 and a beta of 1.48. The company's fifty day moving average is $42.88 and its 200-day moving average is $44.03.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $273.58 million during the quarter, compared to the consensus estimate of $280.28 million. During the same quarter last year, the company posted $0.81 earnings per share. The firm's revenue for the quarter was down 5.8% compared to the same quarter last year. On average, sell-side analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be issued a $0.14 dividend. This is a boost from Cactus's previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 29th. This represents a $0.56 annualized dividend and a yield of 1.3%. Cactus's dividend payout ratio (DPR) is currently 21.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. 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. Wall Street Zen raised shares of Cactus from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Stifel Nicolaus cut 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. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Cactus currently has a consensus rating of "Hold" and a consensus price target of $50.75.

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.