Fort Washington Investment Advisors Inc. OH Has $21.83 Million Position in Cactus, Inc. $WHD

Fort Washington Investment Advisors Inc. OH lessened its holdings in Cactus, Inc. (NYSE:WHD) by 25.3% in the first quarter, Holdings Channel reports. The institutional investor owned 460,878 shares of the company’s stock after selling 155,910 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Cactus were worth $21,832,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WHD. Pictet Asset Management Holding SA grew its holdings in Cactus by 9.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 12,551 shares of the company’s stock worth $595,000 after acquiring an additional 1,064 shares during the last quarter. Wasatch Advisors LP increased its position in Cactus by 79.0% in the 1st quarter. Wasatch Advisors LP now owns 1,349,420 shares of the company’s stock valued at $63,922,000 after acquiring an additional 595,562 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Cactus during the first quarter valued at $1,445,000. Harbour Wealth Management Group Inc. bought a new position in shares of Cactus during the first quarter valued at $360,000. Finally, SG Americas Securities LLC raised its stake in shares of Cactus by 237.1% during the first quarter. SG Americas Securities LLC now owns 78,748 shares of the company’s stock valued at $3,730,000 after acquiring an additional 55,390 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WHD has been the topic of several analyst reports. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Barclays raised their target price on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Citigroup lifted their target price on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price target (up from $66.00) on shares of Cactus in a research report on Tuesday, June 16th. Finally, Piper Sandler increased their price target on Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.40.

Insider Activity

In other Cactus news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the sale, the director directly owned 29,444 shares in the company, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Y. Mcgovern sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total value of $678,840.00. Following the completion of the transaction, the director directly owned 15,990 shares in the company, valued at approximately $904,554.30. This trade represents a 42.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 12.91% of the stock is owned by corporate insiders.

Cactus Price Performance

WHD stock opened at $51.98 on Monday. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 49.04, a PEG ratio of 2.04 and a beta of 1.37. The company’s fifty day simple moving average is $56.94 and its 200 day simple moving average is $53.14. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $64.30.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The firm had revenue of $388.35 million during the quarter, compared to the consensus estimate of $380.42 million. During the same period last year, the business posted $0.73 EPS. The business’s revenue was up 38.5% compared to the same quarter last year. On average, analysts expect that Cactus, Inc. will post 2.88 earnings per share for the current year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 1st were given a dividend of $0.14 per share. The ex-dividend date was Monday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. Cactus’s dividend payout ratio is presently 52.83%.

Cactus 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.