Strs Ohio Buys Shares of 113,800 Cactus, Inc. $WHD

Key Points

• Strs Ohio acquired 113,800 shares of Cactus, Inc. for approximately $5.2 million, now owning about 0.14% of the company as per their latest SEC filing.
• Cactus recently declared a quarterly dividend increase from $0.13 to $0.14 per share, with an annualized yield of 1.4%.
• Equities analysts have mixed views on Cactus, with a consensus rating of "Hold" and a price target averaging $50.75, while recent ratings ranged from "strong sell" to "overweight".

Strs Ohio purchased a new stake in Cactus, Inc. (NYSE:WHD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 113,800 shares of the company's stock, valued at approximately $5,215,000. Strs Ohio owned approximately 0.14% of Cactus as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WHD. Central Pacific Bank Trust Division lifted its holdings in shares of Cactus by 7.5% during the first quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after buying an additional 250 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Cactus by 5.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,133 shares of the company's stock valued at $300,000 after acquiring an additional 269 shares during the period. Xponance Inc. grew its position in Cactus by 5.7% in the first quarter. Xponance Inc. now owns 5,405 shares of the company's stock valued at $248,000 after acquiring an additional 291 shares during the period. KBC Group NV grew its position in Cactus by 11.9% in 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 period. Finally, Alliance Wealth Advisors LLC UT grew its holdings in shares of Cactus by 2.7% during the first quarter. Alliance Wealth Advisors LLC UT now owns 15,472 shares of the company's stock worth $709,000 after purchasing an additional 412 shares during the last quarter. Institutional investors own 85.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Cactus from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Zacks Research lowered Cactus from a "hold" rating to a "strong sell" rating in a research report on Monday, September 8th. Barclays reissued an "overweight" rating and issued a $52.00 target price (down previously from $53.00) on shares of Cactus in a research report on Monday, August 4th. Stifel Nicolaus cut their target price on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lowered their price target on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $50.75.

Insider Transactions at Cactus

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total value of $420,307.04. Following the completion of the transaction, the executive vice president owned 11,088 shares of the company's stock, valued at $458,156.16. This represents a 47.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.84% of the stock is currently owned by insiders.

Cactus Stock Performance

WHD opened at $40.00 on Monday. The business has a fifty day simple moving average of $42.29 and a 200 day simple moving average of $42.73. The company has a market capitalization of $3.19 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 3.77 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. Cactus, Inc. has a 1 year low of $33.80 and a 1 year high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. The business's revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Research analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.14 per share. This is an increase from Cactus's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. Cactus's payout ratio is presently 21.13%.

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.

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