113,800 Shares in Cactus, Inc. $WHD Purchased by Strs Ohio

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 acquired a new position in shares of Cactus, Inc. (NYSE:WHD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 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 SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC raised its stake in Cactus by 40.5% in the 1st quarter. Intech Investment Management LLC now owns 36,205 shares of the company's stock valued at $1,659,000 after acquiring an additional 10,444 shares during the period. Jane Street Group LLC raised its stake in Cactus by 482.7% in the 1st quarter. Jane Street Group LLC now owns 238,879 shares of the company's stock valued at $10,948,000 after acquiring an additional 197,887 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Cactus by 26.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company's stock valued at $10,400,000 after acquiring an additional 46,835 shares during the period. United Services Automobile Association bought a new stake in Cactus in the 1st quarter valued at $203,000. Finally, Caxton Associates LLP bought a new stake in Cactus in the 1st quarter valued at $427,000. Institutional investors own 85.11% of the company's stock.

Insider Buying and Selling at Cactus

In related news, EVP William D. Marsh sold 10,172 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total transaction of $420,307.04. Following the completion of the sale, the executive vice president owned 11,088 shares in the company, valued at approximately $458,156.16. This represents a 47.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 13.75% of the stock is owned by insiders.

Analyst Ratings Changes

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

Cactus Trading Down 4.0%

Shares of Cactus stock traded down $1.67 during midday trading on Friday, reaching $39.55. The company had a trading volume of 1,595,557 shares, compared to its average volume of 603,678. The stock has a fifty day moving average price of $41.76 and a 200 day moving average price of $42.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. The firm has a market cap of $3.16 billion, a PE ratio of 14.93, a P/E/G ratio of 3.89 and a beta of 1.53. 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 posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.Cactus's revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. On average, equities analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 29th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.4%. This is a boost from Cactus's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, August 29th. 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.