B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Cactus, Inc. (NYSE:WHD – Free Report) by 59.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 57,157 shares of the company’s stock after acquiring an additional 21,339 shares during the period. B. Metzler seel. Sohn & Co. AG owned about 0.07% of Cactus worth $2,928,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in WHD. Wellington Management Group LLP lifted its position in shares of Cactus by 20.0% in the fourth quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock valued at $181,074,000 after acquiring an additional 659,366 shares in the last quarter. State Street Corp raised its stake in Cactus by 3.0% in the 4th quarter. State Street Corp now owns 2,844,994 shares of the company’s stock valued at $129,959,000 after purchasing an additional 83,190 shares during the last quarter. Capital International Investors lifted its holdings in Cactus by 27.0% in the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock valued at $107,062,000 after purchasing an additional 498,210 shares in the last quarter. First Trust Advisors LP lifted its holdings in Cactus by 13.7% in the 1st quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock valued at $99,033,000 after purchasing an additional 251,283 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Cactus by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock worth $89,729,000 after purchasing an additional 28,415 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.
Cactus Stock Performance
NYSE WHD opened at $70.37 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81. The company has a market cap of $5.64 billion, a P/E ratio of 60.15, a P/E/G ratio of 2.53 and a beta of 1.37. The stock has a 50-day moving average of $61.84 and a two-hundred day moving average of $56.86. Cactus, Inc. has a 1-year low of $33.20 and a 1-year high of $74.07.
Cactus (NYSE:WHD – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.29. The business had revenue of $449.53 million for the quarter, compared to analysts’ expectations of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The business’s quarterly revenue was up 64.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. As a group, analysts anticipate that Cactus, Inc. will post 3.12 EPS for the current year.
Cactus Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.15 per share. This is a boost from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. Cactus’s dividend payout ratio (DPR) is currently 51.28%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on WHD. Piper Sandler upped their target price on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Stifel Nicolaus boosted their price target on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Citigroup cut shares of Cactus from a “buy” rating to a “neutral” rating and upped their price objective for the company from $67.00 to $75.00 in a research note on Thursday, August 20th. Wall Street Zen upgraded shares of Cactus from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Barclays raised their target price on shares of Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Cactus presently has an average rating of “Hold” and an average target price of $66.80.
Check Out Our Latest Stock Report on Cactus
Insider Buying and Selling at Cactus
In other news, CEO Steven Bender sold 25,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $67.65, for a total transaction of $1,691,250.00. Following the sale, the chief executive officer owned 99,241 shares of the company’s stock, valued at approximately $6,713,653.65. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Bender sold 100,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $63.89, for a total value of $6,389,000.00. Following the completion of the sale, the chief executive officer owned 120,527 shares in the company, valued at approximately $7,700,470.03. The trade was a 45.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 363,455 shares of company stock worth $23,298,764. 12.91% of the stock is currently owned by corporate insiders.
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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.
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