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

Palisade Capital Management LP decreased its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oarsman Capital Inc. acquired a new stake in shares of Cactus in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its stake in shares of Cactus by 74.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company's stock valued at $30,000 after buying an additional 223 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Cactus by 66.9% in the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company's stock valued at $49,000 after buying an additional 337 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Cactus in the fourth quarter valued at about $76,000. Finally, AlphaQuest LLC increased its stake in shares of Cactus by 202.5% in the fourth quarter. AlphaQuest LLC now owns 1,706 shares of the company's stock valued at $100,000 after buying an additional 1,142 shares during the period. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Stock Up 0.0%

Cactus stock traded up $0.01 during mid-day trading on Friday, reaching $45.27. The stock had a trading volume of 202,950 shares, compared to its average volume of 703,868. 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. The stock's 50-day simple moving average is $43.26 and its 200-day simple moving average is $48.95. The firm has a market capitalization of $3.61 billion, a PE ratio of 16.11 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data 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 return on equity of 18.99% and a net margin of 16.78%. The firm had revenue of $280.32 million during the quarter, compared to analysts' expectations of $272.22 million. During the same quarter last year, the firm posted $0.75 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WHD shares. Stifel Nicolaus decreased their target price on Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Finally, Barclays decreased their target price on Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $52.33.

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.