Caxton Associates LP Buys New Position in Cactus, Inc. (NYSE:WHD)

Caxton Associates LP bought a new stake in shares of Cactus, Inc. (NYSE:WHD) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,100 shares of the company’s stock, valued at approximately $427,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in shares of Cactus during the 2nd quarter worth $122,623,000. First Trust Advisors LP raised its position in Cactus by 595.4% during the fourth quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock valued at $31,011,000 after purchasing an additional 584,831 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Cactus by 3,350.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 513,417 shares of the company’s stock worth $23,309,000 after purchasing an additional 498,536 shares during the last quarter. Norges Bank purchased a new position in shares of Cactus in the 4th quarter worth about $20,204,000. Finally, Wasatch Advisors LP boosted its holdings in shares of Cactus by 39.1% in the 1st quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock worth $66,921,000 after purchasing an additional 375,829 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Stock Up 3.2 %

Shares of NYSE WHD opened at $58.50 on Friday. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.31 and a beta of 1.95. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $59.06 and its 200 day moving average is $53.92. Cactus, Inc. has a 52 week low of $37.58 and a 52 week high of $64.96.

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

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.52 annualized dividend and a yield of 0.89%. This is a boost from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio (DPR) is 20.72%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WHD shares. Barclays boosted their target price on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Johnson Rice lowered shares of Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Citigroup lifted their target price on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler cut their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.00.

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.