Northern Trust Corp Buys 68,473 Shares of Cactus, Inc. (NYSE:WHD)

Northern Trust Corp lifted its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 10.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 724,891 shares of the company's stock after acquiring an additional 68,473 shares during the period. Northern Trust Corp owned 0.91% of Cactus worth $42,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WHD. First Trust Advisors LP increased its position in Cactus by 34.6% in the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock valued at $90,841,000 after buying an additional 400,452 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Cactus in the fourth quarter valued at approximately $19,235,000. Raymond James Financial Inc. bought a new stake in shares of Cactus during the fourth quarter valued at approximately $16,377,000. Tudor Investment Corp ET AL raised its position in shares of Cactus by 487.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company's stock worth $16,473,000 after purchasing an additional 234,191 shares during the period. Finally, Capital International Investors lifted its holdings in shares of Cactus by 14.8% in the 4th quarter. Capital International Investors now owns 1,686,858 shares of the company's stock worth $98,445,000 after purchasing an additional 218,004 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Barclays decreased their price objective on Cactus from $54.00 to $51.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. dropped their target price on Cactus from $54.00 to $52.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $52.33.

Cactus Stock Performance

NYSE:WHD traded up $0.90 during trading on Friday, reaching $41.94. The company's stock had a trading volume of 790,168 shares, compared to its average volume of 792,896. Cactus, Inc. has a 12 month low of $33.80 and a 12 month high of $70.01. The firm has a 50 day moving average of $41.64 and a 200-day moving average of $54.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 5.13 and a beta of 1.50.

Cactus (NYSE:WHD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $280.32 million for the quarter, compared to analyst estimates of $272.22 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business's revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. Research analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 2nd. Cactus's dividend payout ratio (DPR) is presently 18.51%.

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.