SG Americas Securities LLC Grows Position in Cactus, Inc. (NYSE:WHD)

SG Americas Securities LLC grew its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 535.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,413 shares of the company's stock after buying an additional 12,146 shares during the period. SG Americas Securities LLC's holdings in Cactus were worth $661,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WHD. Portside Wealth Group LLC lifted its stake in shares of Cactus by 16.8% during the 1st quarter. Portside Wealth Group LLC now owns 5,343 shares of the company's stock valued at $245,000 after buying an additional 767 shares in the last quarter. Congress Asset Management Co. raised its holdings in Cactus by 13.3% during the first quarter. Congress Asset Management Co. now owns 322,467 shares of the company's stock valued at $14,779,000 after acquiring an additional 37,781 shares during the period. Vest Financial LLC lifted its position in shares of Cactus by 32.8% in the first quarter. Vest Financial LLC now owns 57,203 shares of the company's stock valued at $2,622,000 after acquiring an additional 14,141 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Cactus by 0.7% in the first quarter. Rhumbline Advisers now owns 195,038 shares of the company's stock worth $8,939,000 after acquiring an additional 1,270 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Cactus by 3,480.1% in the first quarter. GAMMA Investing LLC now owns 91,293 shares of the company's stock worth $4,184,000 after acquiring an additional 88,743 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WHD has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Stifel Nicolaus dropped their price target on Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Barclays cut their price target on Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Cactus currently has a consensus rating of "Hold" and an average target price of $52.33.

Cactus Price Performance

Shares of Cactus stock traded down $0.69 during trading hours on Wednesday, reaching $43.49. The company's stock had a trading volume of 502,306 shares, compared to its average volume of 705,172. The firm has a 50 day moving average price of $42.14 and a 200-day moving average price of $49.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.47. The stock has a market cap of $3.47 billion, a P/E ratio of 15.48 and a beta of 1.49. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01.

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

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, June 2nd. Cactus's dividend payout ratio is currently 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.