Vident Advisory LLC Invests $1.12 Million in Cactus, Inc. $WHD

Key Points

• Vident Advisory LLC acquired a new stake in Cactus, Inc. worth approximately $1.12 million by purchasing 24,505 shares during the first quarter.
• Recent analyst ratings show Cactus stock is currently rated as a "Hold" with a target price averaging $50.75, with Barclays downgrading its target to $52.
• Cactus has announced a quarterly dividend increase to $0.14 per share, indicating a positive shift, as it was previously $0.13, representing an annualized yield of 1.4%.

Vident Advisory LLC acquired a new stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,505 shares of the company's stock, valued at approximately $1,123,000.

Several other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in shares of Cactus by 10,002.6% in the first quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock valued at $20,993,000 after acquiring an additional 453,519 shares during the period. Nuveen LLC acquired a new stake in shares of Cactus during the first quarter worth about $11,494,000. Point72 Asset Management L.P. purchased a new position in shares of Cactus during the fourth quarter worth approximately $14,285,000. Jane Street Group LLC increased its position in shares of Cactus by 482.7% in the first quarter. Jane Street Group LLC now owns 238,879 shares of the company's stock valued at $10,948,000 after buying an additional 197,887 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Cactus by 7.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,947,835 shares of the company's stock valued at $135,100,000 after purchasing an additional 195,496 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Stock Performance

Shares of NYSE WHD traded down $0.83 during trading hours on Monday, reaching $41.96. The stock had a trading volume of 354,821 shares, compared to its average volume of 711,235. 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 twelve month low of $33.80 and a twelve month high of $70.01. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 4.02 and a beta of 1.53. The business's fifty day moving average is $42.66 and its two-hundred day moving average is $43.28.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly 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 business had revenue of $273.58 million during 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 firm's revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. As a group, research analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The company 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 represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Cactus's previous quarterly dividend of $0.13. Cactus's payout ratio is currently 21.13%.

Analyst Ratings Changes

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

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.