Vest Financial LLC Purchases 22,557 Shares of Cactus, Inc. $WHD

Key Points

• Vest Financial LLC has increased its holdings in Cactus, Inc. (NYSE: WHD) by 39.4%, acquiring an additional 22,557 shares during Q2, bringing its total ownership to 79,760 shares valued at approximately $3.49 million.
• Cactus, Inc. recently announced a quarterly dividend increase from $0.13 to $0.14 per share, resulting in an annualized dividend of $0.56 and a yield of 1.6%.
• Despite a recent 4.9% rise in its stock price, Cactus reported lower earnings for the last quarter, missing analysts' expectations and reporting revenues down 5.8% year-over-year.

Vest Financial LLC boosted its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 39.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,760 shares of the company's stock after acquiring an additional 22,557 shares during the quarter. Vest Financial LLC owned 0.10% of Cactus worth $3,487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock valued at $47,000 after purchasing an additional 543 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Cactus in the first quarter valued at about $57,000. Financial Harvest LLC bought a new position in shares of Cactus in the first quarter valued at about $130,000. CWM LLC raised its position in shares of Cactus by 131.7% in the second quarter. CWM LLC now owns 2,966 shares of the company's stock valued at $130,000 after purchasing an additional 1,686 shares during the period. Finally, KBC Group NV raised its position in shares of 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 purchasing an additional 360 shares during the period. 85.11% of the stock is owned by institutional investors.

Insider Transactions at Cactus

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total transaction of $420,307.04. Following the sale, the executive vice president directly owned 11,088 shares in the company, valued at $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 is available at the SEC website. 16.84% of the stock is owned by insiders.

Cactus Trading Up 4.9%

Shares of Cactus stock opened at $35.05 on Tuesday. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 3.15 and a beta of 1.48. 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 $33.20 and a 12-month high of $70.01. The firm's 50-day moving average price is $39.85 and its two-hundred day moving average price is $41.55.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The firm had revenue of $273.58 million for 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%.The company's quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 29th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, August 29th. This is a positive change from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.6%. Cactus's dividend payout ratio is currently 21.13%.

Wall Street Analyst Weigh In

WHD has been the topic of several research analyst reports. Barclays reissued 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. Stifel Nicolaus decreased their price target on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Zacks Research downgraded shares of Cactus from a "hold" rating to a "strong sell" rating in a research note on Monday, September 8th. Weiss Ratings restated a "hold (c)" rating on shares of Cactus in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Cactus from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cactus currently has an average rating of "Hold" and a consensus target price of $51.67.

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.

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