Nomura Holdings Inc. Invests $598,000 in Cactus, Inc. $WHD

Key Points

• Nomura Holdings Inc. has made a new investment of approximately $598,000 in Cactus, Inc., acquiring 13,051 shares of the company during the first quarter.
• Wall Street analysts have mixed ratings for Cactus, with a consensus rating of "Hold" and a target price of $50.75 as of late August.
• Cactus, Inc. has announced an increase in its quarterly dividend to $0.14, which is set to be paid on September 18th, reflecting a 1.3% dividend yield.

Nomura Holdings Inc. purchased a new stake in Cactus, Inc. (NYSE:WHD - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 13,051 shares of the company's stock, valued at approximately $598,000.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of Cactus by 10,002.6% in the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock valued at $20,993,000 after buying an additional 453,519 shares in the last quarter. Nuveen LLC bought a new position in Cactus during the first quarter worth about $11,494,000. Point72 Asset Management L.P. acquired a new position in Cactus in the fourth quarter valued at about $14,285,000. Jane Street Group LLC increased its holdings in shares of Cactus by 482.7% in the first quarter. Jane Street Group LLC now owns 238,879 shares of the company's stock worth $10,948,000 after acquiring an additional 197,887 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Cactus by 7.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,947,835 shares of the company's stock worth $135,100,000 after purchasing an additional 195,496 shares during the period. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Stock Down 1.4%

Cactus stock traded down $0.61 during mid-day trading on Friday, reaching $42.75. The company's stock had a trading volume of 776,135 shares, compared to its average volume of 611,854. 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 business's 50 day simple moving average is $42.66 and its 200 day simple moving average is $43.39. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 4.02 and a beta of 1.53.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing the consensus estimate 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%.The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. As a group, research analysts anticipate 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. Stockholders of record on Friday, August 29th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio (DPR) is currently 21.13%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WHD. Stifel Nicolaus decreased their price objective on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Wall Street Zen raised shares of Cactus from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Barclays restated 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. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.