TD Asset Management Inc Increases Stock Position in Cactus, Inc. (NYSE:WHD)

TD Asset Management Inc raised its position in Cactus, Inc. (NYSE:WHD - Free Report) by 38.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 42,942 shares of the company's stock after acquiring an additional 11,942 shares during the period. TD Asset Management Inc owned about 0.05% of Cactus worth $1,968,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in WHD. Oarsman Capital Inc. bought a new stake in shares of Cactus in the fourth quarter valued at approximately $26,000. Financial Harvest LLC acquired a new position in Cactus in the first quarter valued at about $130,000. KBC Group NV increased its holdings in Cactus by 11.9% in the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock valued at $155,000 after buying an additional 360 shares during the period. Central Pacific Bank Trust Division raised its position in shares of Cactus by 7.5% in the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock valued at $164,000 after buying an additional 250 shares in the last quarter. Finally, Hancock Whitney Corp increased its stake in shares of Cactus by 7.4% in the 4th quarter. Hancock Whitney Corp now owns 4,009 shares of the company's stock valued at $234,000 after purchasing an additional 277 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Stock Down 1.6%

Shares of NYSE WHD traded down $0.65 during trading on Thursday, reaching $38.97. The company had a trading volume of 421,280 shares, compared to its average volume of 719,091. The business's 50-day moving average is $44.50 and its 200 day moving average is $46.62. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01. The stock has a market cap of $3.11 billion, a PE ratio of 14.73, a P/E/G ratio of 3.70 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Cactus's revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 EPS. As a group, equities analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be paid a $0.14 dividend. This is a boost from Cactus's previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. Cactus's dividend payout ratio (DPR) is currently 19.62%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Barclays reaffirmed an "overweight" rating and issued a $52.00 price target (down from $53.00) on shares of Cactus in a research note on Monday. Finally, Stifel Nicolaus dropped their price target on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, August 1st.

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.