6,597 Shares in Cactus, Inc. (NYSE:WHD) Bought by Algert Global LLC

Algert Global LLC acquired a new stake in shares of Cactus, Inc. (NYSE:WHD) during the second quarter, HoldingsChannel reports. The fund acquired 6,597 shares of the company’s stock, valued at approximately $348,000.

Several other institutional investors have also added to or reduced their stakes in WHD. GAMMA Investing LLC increased its position in shares of Cactus by 27.5% during the first quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after buying an additional 217 shares during the period. SG Americas Securities LLC purchased a new position in shares of Cactus during the 1st quarter worth approximately $115,000. Covestor Ltd lifted its stake in shares of Cactus by 251.8% in the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after purchasing an additional 1,795 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Cactus in the 1st quarter valued at approximately $182,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Cactus in the first quarter worth $202,000. 85.11% of the stock is currently owned by institutional investors.

Cactus Price Performance

Shares of NYSE:WHD opened at $62.46 on Wednesday. The company has a market capitalization of $4.97 billion, a PE ratio of 24.88, a PEG ratio of 2.35 and a beta of 1.95. The business has a fifty day moving average price of $59.46 and a 200-day moving average price of $54.71. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $64.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59.

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

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a $0.13 dividend. 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 payout ratio is presently 20.72%.

Analysts Set New Price Targets

WHD has been the subject of several recent research reports. Barclays raised 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. Citigroup lifted their price target on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler cut their price objective 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $54.00.

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.