Morningstar Investment Management LLC Takes Position in Cactus, Inc. $WHD

Morningstar Investment Management LLC bought a new stake in Cactus, Inc. (NYSE:WHD) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 20,033 shares of the company’s stock, valued at approximately $949,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its position in Cactus by 113.8% during the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after buying an additional 543 shares during the period. AQR Capital Management LLC boosted its stake in shares of Cactus by 101.1% during the 1st quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock worth $524,000 after acquiring an additional 5,745 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cactus by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock worth $1,819,000 after acquiring an additional 1,733 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Cactus during the 1st quarter valued at about $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Cactus by 26.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock valued at $10,400,000 after acquiring an additional 46,835 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Alan Semple sold 10,206 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the completion of the sale, the director owned 29,444 shares in the company, valued at $1,667,119.28. This trade represents a 25.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the sale, the director directly owned 15,990 shares in the company, valued at approximately $904,554.30. The trade was a 42.87% decrease in their position. The SEC filing for this sale provides additional information. 12.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WHD has been the subject of a number of analyst reports. Piper Sandler upped their price target on Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price target (up from $66.00) on shares of Cactus in a research note on Tuesday, June 16th. Citigroup lifted their price objective on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, Barclays raised their target price on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cactus presently has an average rating of “Moderate Buy” and an average target price of $63.60.

Cactus Trading Down 0.7%

Shares of WHD stock opened at $55.00 on Friday. The company’s 50-day moving average price is $55.94 and its 200-day moving average price is $54.07. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 51.89, a PEG ratio of 2.08 and a beta of 1.38. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $64.30.

Cactus (NYSE:WHD) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The firm had revenue of $388.35 million during the quarter, compared to analysts’ expectations of $380.42 million. During the same period last year, the business earned $0.73 earnings per share. Cactus’s revenue was up 38.5% compared to the same quarter last year. As a group, equities analysts predict that Cactus, Inc. will post 2.92 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. Cactus’s dividend payout ratio is 52.83%.

Cactus Company 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.