Rhumbline Advisers Buys 84,984 Shares of Cactus, Inc. (NYSE:WHD)

Rhumbline Advisers boosted its stake in shares of Cactus, Inc. (NYSE:WHD) by 69.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 206,982 shares of the company’s stock after buying an additional 84,984 shares during the period. Rhumbline Advisers’ holdings in Cactus were worth $10,916,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Cactus by 27.5% in the first quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after acquiring an additional 217 shares during the period. Gilbert & Cook Inc. grew its holdings in Cactus by 2.6% during the 1st quarter. Gilbert & Cook Inc. now owns 14,016 shares of the company’s stock valued at $702,000 after purchasing an additional 352 shares during the last quarter. Bridge City Capital LLC raised its position in Cactus by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 69,590 shares of the company’s stock worth $3,486,000 after purchasing an additional 534 shares during the period. Principal Securities Inc. bought a new stake in Cactus in the fourth quarter worth about $30,000. Finally, Principal Financial Group Inc. boosted its position in shares of Cactus by 10.7% during the fourth quarter. Principal Financial Group Inc. now owns 7,484 shares of the company’s stock valued at $340,000 after buying an additional 726 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Cactus Stock Down 0.4 %

WHD stock opened at $54.43 on Thursday. The firm’s fifty day moving average is $57.89 and its 200 day moving average is $52.77. The firm has a market cap of $4.33 billion, a PE ratio of 21.69, a P/E/G ratio of 2.02 and a beta of 1.96. Cactus, Inc. has a one year low of $37.58 and a one year 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 announced its earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The firm had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The business’s revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. On average, research analysts forecast that Cactus, Inc. will post 3.03 EPS for the current year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.13 per share. This is a positive change from Cactus’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, August 26th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.96%. Cactus’s dividend payout ratio is presently 20.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Johnson Rice downgraded Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Piper Sandler decreased their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Citigroup boosted their target price on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, Barclays raised their price target on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.00.

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.