Cactus, Inc. (NYSE:WHD) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its holdings in Cactus, Inc. (NYSE:WHD) by 22.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 66,434 shares of the company’s stock after buying an additional 12,119 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cactus were worth $3,504,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC increased its holdings in Cactus by 27.5% in the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after purchasing an additional 217 shares in the last quarter. TFO Wealth Partners LLC lifted its position in Cactus by 221,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock worth $101,000 after acquiring an additional 2,213 shares in the last quarter. SG Americas Securities LLC purchased a new position in Cactus in the 1st quarter worth approximately $115,000. Covestor Ltd grew its position in Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after acquiring an additional 1,795 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Cactus during the first quarter valued at approximately $182,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

WHD opened at $63.12 on Friday. The company has a market capitalization of $5.02 billion, a P/E ratio of 25.12, a PEG ratio of 2.14 and a beta of 1.95. The company has a 50-day moving average of $59.27 and a 200-day moving average of $54.24. 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, Inc. has a 1-year low of $37.58 and a 1-year high of $64.96.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The firm had revenue of $290.39 million during the quarter, compared to analyst estimates of $276.76 million. During the same period in the previous year, the company earned $0.84 earnings per share. Cactus’s quarterly revenue was down 5.0% on a year-over-year basis. Equities analysts expect that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.82%. This is an increase from Cactus’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, August 26th. Cactus’s payout ratio is 20.72%.

Analyst Ratings Changes

WHD has been the subject of several analyst reports. Citigroup upped 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. Piper Sandler lowered their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Barclays boosted their price target on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Cactus presently has an average rating of “Hold” and an average target price of $54.00.

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.