New Age Alpha Advisors LLC Decreases Stake in Cactus, Inc. (NYSE:WHD)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Cactus, Inc. by 94.2%, selling 55,012 shares during the first quarter, leaving them with only 3,410 shares valued at approximately $156,000.
• Several institutional investors, including Pacer Advisors Inc., significantly increased their positions in Cactus, with Pacer acquiring over 453,000 shares in the same period.
• Cactus recently announced a quarterly dividend increase to $0.14 per share, up from $0.13, reflecting a 1.5% yield and a payout ratio of 19.62%.

New Age Alpha Advisors LLC decreased its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 94.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,410 shares of the company's stock after selling 55,012 shares during the quarter. New Age Alpha Advisors LLC's holdings in Cactus were worth $156,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WHD. Financial Harvest LLC bought a new position in Cactus in the 1st quarter worth about $130,000. 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 acquiring an additional 360 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in 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 acquiring an additional 250 shares in the last quarter. Portside Wealth Group LLC grew its stake in Cactus by 12.2% in the 1st quarter. Portside Wealth Group LLC now owns 4,576 shares of the company's stock worth $210,000 after acquiring an additional 496 shares in the last quarter. Finally, Hancock Whitney Corp grew its stake in Cactus by 7.4% in the 4th quarter. Hancock Whitney Corp now owns 4,009 shares of the company's stock worth $234,000 after acquiring an additional 277 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stifel Nicolaus dropped their target price on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Barclays reiterated an "overweight" rating and set a $52.00 target price (down from $53.00) on shares of Cactus in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. dropped their target price 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.

Cactus Stock Down 0.7%

Cactus stock traded down $0.30 during midday trading on Friday, hitting $40.14. 74,883 shares of the company's stock were exchanged, compared to its average volume of 722,939. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. Cactus, Inc. has a 12 month low of $33.80 and a 12 month high of $70.01. The firm has a 50-day moving average of $44.06 and a two-hundred day moving average of $45.64. The company has a market cap of $3.20 billion, a PE ratio of 15.18, a P/E/G ratio of 3.80 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (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 business had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. During the same quarter in the previous year, the company earned $0.81 earnings per share. The firm's revenue was down 5.8% on a year-over-year basis. As a group, analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio (DPR) is 19.62%.

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.