Trexquant Investment LP Invests $3.74 Million in Cactus, Inc. $WHD

Key Points

• Trexquant Investment LP has purchased 81,600 shares of Cactus, Inc. for approximately $3,740,000, representing about 0.10% ownership of the company.
• Cactus, Inc. recently increased its quarterly dividend to $0.14 per share, up from $0.13, with a 1.4% yield and a dividend payout ratio of 21.13%.
• The company's most recent earnings report showed a miss in EPS at $0.66, below the consensus estimate of $0.67, with revenues down 5.8% year-over-year.

Trexquant Investment LP bought a new position in Cactus, Inc. (NYSE:WHD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 81,600 shares of the company's stock, valued at approximately $3,740,000. Trexquant Investment LP owned approximately 0.10% of Cactus as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WHD. Price T Rowe Associates Inc. MD increased its stake in shares of Cactus by 11.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,854 shares of the company's stock worth $2,793,000 after purchasing an additional 5,070 shares in the last quarter. Northern Trust Corp boosted its position in shares of Cactus by 10.4% in the fourth quarter. Northern Trust Corp now owns 724,891 shares of the company's stock valued at $42,305,000 after acquiring an additional 68,473 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Cactus in the fourth quarter valued at approximately $292,000. Ameriprise Financial Inc. boosted its position in shares of Cactus by 0.8% in the fourth quarter. Ameriprise Financial Inc. now owns 292,946 shares of the company's stock valued at $17,096,000 after acquiring an additional 2,238 shares during the period. Finally, Brevan Howard Capital Management LP boosted its position in shares of Cactus by 100.4% in the fourth quarter. Brevan Howard Capital Management LP now owns 38,095 shares of the company's stock valued at $2,223,000 after acquiring an additional 19,086 shares during the period. Hedge funds and other institutional investors own 85.11% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on WHD. JPMorgan Chase & Co. cut their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Stifel Nicolaus cut their price objective on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Cactus from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Barclays restated an "overweight" rating and issued a $52.00 price objective (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $50.75.

Cactus Price Performance

Cactus stock traded down $0.61 during mid-day trading on Friday, hitting $42.75. 776,135 shares of the company traded hands, compared to its average volume of 611,854. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 4.02 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. The stock has a fifty day moving average price of $42.66 and a 200-day moving average price of $43.39.

Cactus (NYSE:WHD - Get Free Report) last announced 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). Cactus had a net margin of 16.19% and a return on equity of 17.34%. The company had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities analysts predict 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 issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 29th. This is a positive change from Cactus's previous quarterly dividend of $0.13. Cactus's dividend payout ratio (DPR) is presently 21.13%.

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.