Cim LLC Buys New Stake in Cactus, Inc. (NYSE:WHD)

Cim LLC bought a new stake in shares of Cactus, Inc. (NYSE:WHD) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,895 shares of the company’s stock, valued at approximately $219,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Dana Investment Advisors Inc. increased its stake in shares of Cactus by 0.6% during the second quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company’s stock valued at $1,678,000 after acquiring an additional 202 shares during the period. GAMMA Investing LLC raised its stake in shares of Cactus by 27.5% in the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock worth $50,000 after buying an additional 217 shares in the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of 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 buying an additional 352 shares during the period. Bridge City Capital LLC boosted its stake 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 buying an additional 534 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Cactus by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 18,341 shares of the company’s stock valued at $967,000 after acquiring an additional 585 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on WHD. Piper Sandler dropped their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Citigroup increased their price objective on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Cactus has a consensus rating of “Hold” and an average target price of $54.00.

Cactus Trading Down 0.1 %

NYSE WHD opened at $61.35 on Thursday. The firm’s 50 day moving average price is $59.19 and its two-hundred day moving average price is $54.19. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 2.14 and a beta of 1.95. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $64.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, beating 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 firm had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. During the same period in the previous year, the firm earned $0.84 earnings per share. Cactus’s quarterly revenue was down 5.0% on a year-over-year basis. Equities analysts anticipate that Cactus, Inc. will post 3.04 EPS for the current year.

Cactus Increases Dividend

The business 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 boost from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Monday, August 26th. Cactus’s dividend payout ratio (DPR) is currently 20.72%.

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.