Dark Forest Capital Management LP Sells 2,952 Shares of Cactus, Inc. (NYSE:WHD)

Dark Forest Capital Management LP lowered its stake in shares of Cactus, Inc. (NYSE:WHD) by 29.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,217 shares of the company’s stock after selling 2,952 shares during the quarter. Dark Forest Capital Management LP’s holdings in Cactus were worth $381,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position 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. boosted its position in shares of Cactus by 2.6% in the first quarter. Gilbert & Cook Inc. now owns 14,016 shares of the company’s stock valued at $702,000 after acquiring an additional 352 shares during the period. Bridge City Capital LLC boosted its position in shares of Cactus by 0.8% in the first quarter. Bridge City Capital LLC now owns 69,590 shares of the company’s stock valued at $3,486,000 after acquiring an additional 534 shares during the period. Arizona State Retirement System boosted its position in shares of Cactus by 3.3% in the second quarter. Arizona State Retirement System now owns 18,341 shares of the company’s stock valued at $967,000 after acquiring an additional 585 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Cactus by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 7,484 shares of the company’s stock valued at $340,000 after acquiring an additional 726 shares during the period. Institutional investors own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Piper Sandler reduced 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. Finally, Barclays raised their target price on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cactus presently has an average rating of “Hold” and an average price target of $54.00.

Cactus Stock Performance

Cactus stock opened at $58.47 on Friday. The firm has a market capitalization of $4.65 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.31 and a beta of 1.95. The stock has a fifty day moving average price of $59.06 and a two-hundred day moving average price of $53.97. Cactus, Inc. has a 52-week low of $37.58 and a 52-week 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 issued its quarterly earnings data 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 company had revenue of $290.39 million during the quarter, compared to analysts’ expectations 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 period last year, the business earned $0.84 earnings per share. As a group, analysts anticipate that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a dividend of $0.13 per share. The ex-dividend date was Monday, August 26th. This is a boost from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.89%. Cactus’s dividend payout ratio (DPR) is presently 20.72%.

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.