Cactus (NYSE:WHD) Trading Up 3.8% – What’s Next?

Cactus, Inc. (NYSE:WHD) shares shot up 3.8% on Tuesday . The company traded as high as $51.86 and last traded at $51.6230. 189,961 shares traded hands during trading, a decline of 82% from the average session volume of 1,039,196 shares. The stock had previously closed at $49.75.

Analyst Ratings Changes

A number of research firms have weighed in on WHD. Piper Sandler began coverage on shares of Cactus in a report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 target price on the stock. Wall Street Zen lowered shares of Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Zacks Research lowered shares of Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research note on Friday, March 27th. Finally, Barclays upped their price objective on shares of Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.33.

Cactus Stock Performance

The stock’s 50 day moving average price is $52.32 and its 200 day moving average price is $46.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81. The company has a market capitalization of $4.11 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 4.73 and a beta of 1.31.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The company had revenue of $261.20 million for the quarter, compared to analyst estimates of $250.60 million. During the same period in the prior year, the firm posted $0.71 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, equities analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 2nd were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, March 2nd. Cactus’s dividend payout ratio is currently 23.33%.

Insider Activity

In related news, President Joel Bender sold 106,809 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the transaction, the president owned 27,793 shares in the company, valued at $1,387,426.56. The trade was a 79.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 200,000 shares of company stock worth $10,039,080. 13.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WHD. Advisors Asset Management Inc. lifted its position in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after acquiring an additional 543 shares during the period. AQR Capital Management LLC lifted its position 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 valued at $524,000 after acquiring an additional 5,745 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $1,819,000 after acquiring an additional 1,733 shares during the period. United Services Automobile Association acquired a new position in shares of Cactus during the 1st quarter valued at $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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. 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.