Pacer Advisors Inc. Purchases 453,519 Shares of Cactus, Inc. (NYSE:WHD)

Key Points

• Pacer Advisors Inc. significantly increased its holdings in Cactus, Inc. by 10,002.6% during the first quarter, owning approximately 0.58% of the company with a total value of $20,993,000.
• Cactus, Inc. reported a net margin of 16.78% and earnings per share of $0.73, beating analyst expectations, with a quarterly revenue of $280.32 million.
• The company recently declared a $0.13 quarterly dividend, resulting in an annualized dividend of $0.52 and a dividend yield of 1.13%.

Pacer Advisors Inc. grew its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 10,002.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,053 shares of the company's stock after buying an additional 453,519 shares during the period. Pacer Advisors Inc. owned approximately 0.58% of Cactus worth $20,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in shares of Cactus by 2.3% during the first quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock valued at $16,750,000 after acquiring an additional 8,164 shares during the last quarter. KBC Group NV raised its stake in shares of Cactus by 11.9% during the first quarter. KBC Group NV now owns 3,373 shares of the company's stock valued at $155,000 after acquiring an additional 360 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Cactus by 535.8% during the first quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock valued at $661,000 after acquiring an additional 12,146 shares during the last quarter. Axiom Investors LLC DE raised its stake in shares of Cactus by 26.0% during the fourth quarter. Axiom Investors LLC DE now owns 149,317 shares of the company's stock valued at $8,714,000 after acquiring an additional 30,851 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Cactus during the first quarter valued at about $447,000. Hedge funds and other institutional investors own 85.11% of the company's stock.

Cactus Stock Down 0.9%

Shares of NYSE:WHD traded down $0.42 during trading on Wednesday, reaching $46.76. 173,030 shares of the stock traded hands, compared to its average volume of 707,170. The stock has a 50-day moving average of $44.50 and a two-hundred day moving average of $47.39. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.47 and a current ratio of 4.85. The stock has a market cap of $3.73 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 4.21 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Cactus had a net margin of 16.78% and a return on equity of 18.99%. The firm had revenue of $280.32 million for the quarter, compared to analysts' expectations of $272.22 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 2nd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, June 2nd. Cactus's dividend payout ratio is currently 18.51%.

Analysts Set New Price Targets

Several brokerages have commented on WHD. JPMorgan Chase & Co. decreased their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Barclays decreased their price target on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday, June 20th. Finally, Stifel Nicolaus decreased their price target on shares of Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 2nd.

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.