Cactus (NYSE:WHD) Reaches New 52-Week Low – Here’s Why

Shares of Cactus, Inc. (NYSE:WHD) reached a new 52-week low during trading on Wednesday . The stock traded as low as $34.48 and last traded at $35.01, with a volume of 1241171 shares traded. The stock had previously closed at $37.53.

Analyst Upgrades and Downgrades

Separately, Barclays dropped their target price on Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.00.

Cactus Stock Performance

The stock’s 50-day moving average price is $51.07 and its 200-day moving average price is $58.38. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.79 billion, a P/E ratio of 12.41, a P/E/G ratio of 5.13 and a beta of 1.74.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The company had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. As a group, equities analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 1.49%. Cactus’s dividend payout ratio (DPR) is presently 18.84%.

Institutional Investors Weigh In On Cactus

Several institutional investors have recently bought and sold shares of WHD. Vanguard Group Inc. raised its position in shares of Cactus by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company’s stock worth $448,247,000 after buying an additional 147,395 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Cactus by 1.7% during the third quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after purchasing an additional 52,085 shares in the last quarter. State Street Corp lifted its position in Cactus by 3.0% in the third quarter. State Street Corp now owns 2,755,757 shares of the company’s stock worth $164,436,000 after purchasing an additional 81,149 shares during the period. Geode Capital Management LLC lifted its position in Cactus by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company’s stock worth $105,308,000 after purchasing an additional 45,821 shares during the period. Finally, Boston Trust Walden Corp boosted its stake in Cactus by 0.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,797,489 shares of the company’s stock valued at $104,901,000 after purchasing an additional 9,884 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

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.