MetLife Investment Management LLC Buys 10,900 Shares of Cactus, Inc. $WHD

Key Points

• MetLife Investment Management LLC increased its stake in Cactus, Inc. by 27.3%, acquiring an additional 10,900 shares and now holding a total of 50,885 shares valued at approximately $2.33 million.
• Cactus recently reported $0.66 earnings per share (EPS) for the quarter, missing analyst expectations of $0.67 and showing a 5.8% decline in revenue from the previous year.
• The company announced a quarterly dividend of $0.14 per share, marking an increase from the previous $0.13 dividend, with a dividend yield of 1.3%.

MetLife Investment Management LLC grew its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 27.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,885 shares of the company's stock after buying an additional 10,900 shares during the period. MetLife Investment Management LLC owned 0.06% of Cactus worth $2,332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WHD. Price T Rowe Associates Inc. MD lifted its holdings in Cactus by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,854 shares of the company's stock valued at $2,793,000 after purchasing an additional 5,070 shares in the last quarter. Northern Trust Corp raised its position in shares of Cactus by 10.4% during the 4th 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. purchased a new position in shares of Cactus during the 4th quarter valued at $292,000. Ameriprise Financial Inc. lifted its stake in shares of Cactus by 0.8% during the 4th quarter. Ameriprise Financial Inc. now owns 292,946 shares of the company's stock valued at $17,096,000 after buying an additional 2,238 shares in the last quarter. Finally, Brevan Howard Capital Management LP boosted its holdings in Cactus by 100.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 38,095 shares of the company's stock worth $2,223,000 after buying an additional 19,086 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Stock Performance

NYSE WHD opened at $41.95 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01. The business has a 50 day simple moving average of $42.84 and a two-hundred day simple moving average of $43.79. The stock has a market capitalization of $3.35 billion, a PE ratio of 15.83, a P/E/G ratio of 3.95 and a beta of 1.53.

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

Cactus Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WHD shares. JPMorgan Chase & Co. lowered their price objective on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Wall Street Zen raised Cactus from a "sell" rating to a "hold" rating in a report on Saturday. Barclays reaffirmed an "overweight" rating and set a $52.00 price objective (down from $53.00) on shares of Cactus in a report on Monday, August 4th. Finally, Stifel Nicolaus lowered their target price on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Two 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. Based on data from MarketBeat, Cactus currently has a consensus rating of "Hold" and a consensus target price 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.

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