Squarepoint Ops LLC Has $18.94 Million Stake in Cactus, Inc. $WHD

Squarepoint Ops LLC boosted its stake in shares of Cactus, Inc. (NYSE:WHD) by 104.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 369,645 shares of the company’s stock after purchasing an additional 188,864 shares during the quarter. Squarepoint Ops LLC owned about 0.46% of Cactus worth $18,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WHD. Johnson Financial Group Inc. bought a new stake in shares of Cactus during the third quarter worth approximately $33,000. Aster Capital Management DIFC Ltd increased its stake in shares of Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock worth $34,000 after purchasing an additional 314 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Cactus during the second quarter worth approximately $35,000. Advisors Asset Management Inc. lifted its holdings in Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after purchasing an additional 543 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Cactus by 39,200.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock worth $54,000 after purchasing an additional 1,176 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WHD has been the topic of several recent research reports. Barclays increased their price objective on Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Wall Street Zen raised shares of Cactus from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Stifel Nicolaus lifted their price objective on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Piper Sandler boosted their price objective on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.80.

Cactus Stock Performance

WHD opened at $69.91 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $74.07. The firm has a market cap of $5.61 billion, a P/E ratio of 59.75, a price-to-earnings-growth ratio of 2.45 and a beta of 1.37. The business’s fifty day moving average is $63.05 and its 200-day moving average is $57.11.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.29. The company had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The firm’s quarterly revenue was up 64.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 EPS. Sell-side analysts expect that Cactus, Inc. will post 3.12 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. This is an increase from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. Cactus’s dividend payout ratio (DPR) is presently 51.28%.

Insider Transactions at Cactus

In other Cactus news, CEO Stephen Tadlock sold 38,455 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the sale, the chief executive officer directly owned 43,178 shares of the company’s stock, valued at $2,754,756.40. The trade was a 47.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Joel Bender sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $70.37, for a total transaction of $7,037,000.00. Following the completion of the sale, the president directly owned 41,519 shares in the company, valued at approximately $2,921,692.03. This represents a 70.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 363,455 shares of company stock worth $23,298,764. 12.91% of the stock is owned by corporate insiders.

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