Algert Global LLC Takes Position in Cactus, Inc. (NYSE:WHD)

Algert Global LLC acquired a new position in Cactus, Inc. (NYSE:WHD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,597 shares of the company’s stock, valued at approximately $348,000.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Cactus by 27.5% in the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after acquiring an additional 217 shares in the last quarter. Gilbert & Cook Inc. raised its stake in Cactus by 2.6% in the first quarter. Gilbert & Cook Inc. now owns 14,016 shares of the company’s stock valued at $702,000 after purchasing an additional 352 shares in the last quarter. Bridge City Capital LLC lifted its position in Cactus by 0.8% during the first quarter. Bridge City Capital LLC now owns 69,590 shares of the company’s stock valued at $3,486,000 after purchasing an additional 534 shares during the last quarter. Arizona State Retirement System grew its stake in Cactus by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 18,341 shares of the company’s stock worth $967,000 after buying an additional 585 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Cactus by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,259 shares of the company’s stock worth $1,912,000 after buying an additional 684 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Piper Sandler cut their price objective on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Barclays increased their price objective on Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.00.

Cactus Stock Down 2.8 %

Shares of NYSE:WHD opened at $62.46 on Wednesday. The stock has a market capitalization of $4.97 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 2.35 and a beta of 1.95. The stock’s 50-day moving average price is $59.46 and its 200-day moving average price is $54.71. The company has a current ratio of 3.75, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $64.96.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The business had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. During the same period last year, the company earned $0.84 EPS. Cactus’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, equities analysts anticipate that Cactus, Inc. will post 3.04 earnings per share for the current year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a dividend of $0.13 per share. This is a positive change from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Monday, August 26th. Cactus’s dividend payout ratio is currently 20.72%.

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.