Rhumbline Advisers reduced its position in shares of Cactus, Inc. (NYSE:WHD) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,913 shares of the company’s stock after selling 6,728 shares during the period. Rhumbline Advisers owned about 0.13% of Cactus worth $2,937,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WHD. Steward Partners Investment Advisory LLC purchased a new position in shares of Cactus during the fourth quarter worth $60,000. Nisa Investment Advisors LLC boosted its position in shares of Cactus by 47.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,100 shares of the company’s stock worth $81,000 after buying an additional 1,000 shares during the period. Meeder Asset Management Inc. purchased a new position in Cactus in the first quarter valued at $132,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cactus by 27.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,580 shares of the company’s stock valued at $198,000 after purchasing an additional 1,621 shares during the period. Finally, Smith Asset Management Group LP purchased a new position in Cactus in the fourth quarter valued at $215,000. Institutional investors and hedge funds own 73.10% of the company’s stock.
WHD has been the subject of a number of recent research reports. Morgan Stanley upgraded Cactus from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $40.00 in a report on Thursday, March 25th. Barclays upgraded Cactus from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $37.00 in a report on Monday, May 3rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $32.00 target price on shares of Cactus in a report on Monday, March 15th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Cactus has a consensus rating of “Buy” and a consensus target price of $29.67.
WHD opened at $40.88 on Friday. The business’s 50-day moving average price is $33.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.98 and a quick ratio of 6.44. Cactus, Inc. has a one year low of $16.11 and a one year high of $41.42. The firm has a market capitalization of $3.09 billion, a PE ratio of 81.76 and a beta of 2.42.
Cactus (NYSE:WHD) last posted its earnings results on Wednesday, May 5th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. Cactus had a return on equity of 3.83% and a net margin of 9.69%. As a group, equities research analysts forecast that Cactus, Inc. will post 0.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Monday, May 31st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Thursday, May 27th. Cactus’s dividend payout ratio (DPR) is currently 49.32%.
Cactus Company Profile
Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.
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