Dana Investment Advisors Inc. Increases Stake in Cactus, Inc. (NYSE:WHD)

Dana Investment Advisors Inc. grew its holdings in Cactus, Inc. (NYSE:WHD) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,807 shares of the company’s stock after purchasing an additional 202 shares during the period. Dana Investment Advisors Inc.’s holdings in Cactus were worth $1,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky grew its stake in Cactus by 22.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 66,434 shares of the company’s stock valued at $3,504,000 after buying an additional 12,119 shares in the last quarter. Truist Financial Corp raised its stake in shares of Cactus by 15.0% during the 2nd quarter. Truist Financial Corp now owns 5,618 shares of the company’s stock valued at $296,000 after purchasing an additional 733 shares during the period. Makaira Partners LLC lifted its holdings in Cactus by 399.6% during the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock worth $26,348,000 after purchasing an additional 399,581 shares in the last quarter. Creative Planning bought a new position in Cactus in the 2nd quarter worth about $467,000. Finally, Algert Global LLC purchased a new position in Cactus during the 2nd quarter valued at about $348,000. Institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

WHD has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Citigroup raised their price target on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, Piper Sandler lowered their price objective on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $54.00.

Cactus Stock Performance

NYSE WHD opened at $61.35 on Thursday. Cactus, Inc. has a 52-week low of $37.58 and a 52-week high of $64.96. The company has a fifty day moving average of $59.19 and a 200-day moving average of $54.19. The company has a market capitalization of $4.88 billion, a P/E ratio of 24.44, a P/E/G ratio of 2.14 and a beta of 1.95. 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 posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. The firm 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 company’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. As a group, equities research analysts predict that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, August 26th. This is an increase from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 0.85%. Cactus’s dividend payout ratio (DPR) is 20.72%.

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.