Palisade Capital Management LP Sells 29,990 Shares of Cactus, Inc. (NYSE:WHD)

Palisade Capital Management LP trimmed its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 7.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 350,655 shares of the company's stock after selling 29,990 shares during the period. Palisade Capital Management LP owned 0.44% of Cactus worth $16,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Cactus by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company's stock worth $448,247,000 after purchasing an additional 147,395 shares during the period. Geode Capital Management LLC boosted its position in Cactus by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company's stock worth $105,308,000 after purchasing an additional 45,821 shares during the period. Capital International Investors boosted its position in Cactus by 14.8% during the 4th quarter. Capital International Investors now owns 1,686,858 shares of the company's stock worth $98,445,000 after purchasing an additional 218,004 shares during the period. First Trust Advisors LP boosted its position in Cactus by 34.6% in the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock valued at $90,841,000 after buying an additional 400,452 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Cactus by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,238,420 shares of the company's stock valued at $72,271,000 after buying an additional 43,237 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in 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 research report on Wednesday, May 28th. Barclays decreased their price objective on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a research report on Friday, June 20th. Finally, Stifel Nicolaus decreased their price objective on shares of Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cactus currently has a consensus rating of "Hold" and a consensus price target of $52.33.

Cactus Stock Up 0.0%

Shares of Cactus stock traded up $0.01 during trading on Friday, reaching $45.27. The company had a trading volume of 202,950 shares, compared to its average volume of 703,868. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 16.11 and a beta of 1.48. The firm's fifty day moving average is $43.26 and its 200-day moving average is $48.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.47 and a current ratio of 4.85. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01.

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

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, June 2nd. Cactus's dividend payout ratio (DPR) is presently 18.51%.

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.