Capital International Investors Raises Stock Position in Cactus, Inc. $WHD

Capital International Investors boosted its holdings in Cactus, Inc. (NYSE:WHD) by 27.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,343,731 shares of the company’s stock after buying an additional 498,210 shares during the period. Capital International Investors owned 2.94% of Cactus worth $107,062,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of WHD. Advisors Asset Management Inc. increased its stake in Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after buying an additional 543 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Cactus by 101.1% during the 1st quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after purchasing an additional 5,745 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Cactus by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock valued at $1,819,000 after purchasing an additional 1,733 shares during the last quarter. United Services Automobile Association bought a new position in shares of Cactus during the 1st quarter valued at about $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cactus by 26.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock valued at $10,400,000 after purchasing an additional 46,835 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Stock Up 4.7%

Shares of NYSE WHD opened at $59.27 on Tuesday. The firm’s 50-day moving average price is $55.50 and its 200-day moving average price is $51.90. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 55.91, a P/E/G ratio of 2.23 and a beta of 1.37. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $64.30.

Cactus (NYSE:WHD) last announced its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $388.35 million for the quarter, compared to analysts’ expectations of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business’s revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. On average, equities research analysts anticipate that Cactus, Inc. will post 2.86 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Cactus’s dividend payout ratio is 52.83%.

Insiders Place Their Bets

In other news, Director Alan Semple sold 10,206 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the completion of the sale, the director directly owned 29,444 shares of the company’s stock, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Y. Mcgovern sold 12,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the completion of the sale, the director directly owned 15,990 shares of the company’s stock, valued at approximately $904,554.30. This trade represents a 42.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 12.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WHD shares. Weiss Ratings downgraded shares of Cactus from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. Citigroup increased their price objective on shares of Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a report on Monday, May 11th. Piper Sandler increased their price objective on shares of Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Barclays increased their price objective on shares of Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.60.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.