631,125 Shares in Cactus, Inc. $WHD Bought by Millennium Management LLC

Key Points

• Millennium Management LLC has acquired a new stake in Cactus, Inc., purchasing 631,125 shares valued at approximately $28.9 million, representing 0.79% of the company.
• Insider selling occurred as EVP William D. Marsh sold 10,172 shares, decreasing his ownership by 47.85%.
• Cactus recently declared a quarterly dividend of $0.14 per share, reflecting an increase from the previous dividend, with an upcoming yield of 1.3%.

Millennium Management LLC bought a new position in Cactus, Inc. (NYSE:WHD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 631,125 shares of the company's stock, valued at approximately $28,924,000. Millennium Management LLC owned about 0.79% of Cactus as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Central Pacific Bank Trust Division grew its holdings in shares of Cactus by 7.5% in the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after purchasing an additional 250 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Cactus by 5.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,133 shares of the company's stock worth $300,000 after purchasing an additional 269 shares during the last quarter. Xponance Inc. grew its holdings in shares of Cactus by 5.7% in the 1st quarter. Xponance Inc. now owns 5,405 shares of the company's stock worth $248,000 after purchasing an additional 291 shares during the last quarter. KBC Group NV grew its holdings in shares of 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 purchasing an additional 360 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT grew its holdings in shares of Cactus by 2.7% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 15,472 shares of the company's stock worth $709,000 after purchasing an additional 412 shares during the last quarter. Institutional investors own 85.11% of the company's stock.

Insider Buying and Selling at Cactus

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total transaction of $420,307.04. Following the completion of the sale, the executive vice president owned 11,088 shares of the company's stock, valued at $458,156.16. This trade represents a 47.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 16.84% of the company's stock.

Cactus Stock Up 0.9%

NYSE WHD traded up $0.38 during trading hours on Wednesday, reaching $40.84. 30,255 shares of the company's stock were exchanged, compared to its average volume of 708,763. The company's 50-day moving average is $42.09 and its two-hundred day moving average is $42.63. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 3.76 and a beta of 1.53.

Cactus (NYSE:WHD - Get Free Report) last posted its 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). The business had revenue of $273.58 million for 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 for the quarter was down 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. On average, 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. Investors of record on Friday, August 29th will be paid a $0.14 dividend. 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 1.4%. The ex-dividend date of this dividend is Friday, August 29th. Cactus's dividend payout ratio (DPR) is 21.13%.

Analysts Set New Price Targets

Several research firms have recently weighed in on WHD. Wall Street Zen raised shares of Cactus from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Stifel Nicolaus reduced their price target on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Barclays reiterated 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, August 4th. JPMorgan Chase & Co. reduced their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, Zacks Research downgraded shares of Cactus from a "hold" rating to a "strong sell" rating in a research report on Monday, September 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.