Federated Hermes Inc. Invests $19.24 Million in Cactus, Inc. (NYSE:WHD)

Federated Hermes Inc. bought a new stake in shares of Cactus, Inc. (NYSE:WHD) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 329,600 shares of the company’s stock, valued at approximately $19,235,000.

Other institutional investors also recently bought and sold shares of the company. Oarsman Capital Inc. purchased a new stake in shares of Cactus during the 4th quarter valued at $26,000. Smartleaf Asset Management LLC increased its position in Cactus by 74.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock valued at $30,000 after buying an additional 223 shares in the last quarter. Versant Capital Management Inc raised its stake in Cactus by 165.4% in the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock valued at $34,000 after buying an additional 359 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Cactus by 66.9% in the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock worth $49,000 after acquiring an additional 337 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Cactus during the fourth quarter worth about $76,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Barclays decreased their price objective on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. One investment 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. According to MarketBeat.com, Cactus currently has an average rating of “Hold” and an average price target of $55.00.

Cactus Stock Down 6.7 %

Cactus stock opened at $35.01 on Wednesday. The business’s 50-day simple moving average is $51.07 and its two-hundred day simple moving average is $58.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The company has a market cap of $2.79 billion, a PE ratio of 12.41, a PEG ratio of 5.13 and a beta of 1.74. Cactus, Inc. has a fifty-two week low of $34.48 and a fifty-two week high of $70.01.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $272.12 million during the quarter, compared to analysts’ expectations of $277.59 million. Equities analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.49%. Cactus’s payout ratio is currently 18.84%.

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.