Segall Bryant & Hamill LLC Makes New $1.22 Million Investment in Cactus, Inc. $WHD

Segall Bryant & Hamill LLC purchased a new position in shares of Cactus, Inc. (NYSE:WHD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 25,766 shares of the company’s stock, valued at approximately $1,221,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC grew its holdings in shares of Cactus by 202.3% in the first quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock valued at $81,178,000 after purchasing an additional 1,146,766 shares during the period. Wellington Management Group LLP raised its stake in Cactus by 52.8% during the third quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock worth $130,432,000 after purchasing an additional 1,141,249 shares during the period. Deprince Race & Zollo Inc. acquired a new position in Cactus in the 1st quarter valued at about $41,895,000. Encompass Capital Advisors LLC acquired a new position in Cactus in the 1st quarter valued at about $36,262,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Cactus in the 2nd quarter valued at approximately $30,648,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Down 1.9%

NYSE:WHD opened at $65.91 on Thursday. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $55.75 and its two-hundred day moving average is $54.61. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $68.00. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 56.33, a price-to-earnings-growth ratio of 2.41 and a beta of 1.36.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. The business had revenue of $449.53 million during the quarter, compared to analysts’ expectations of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The company’s revenue was up 64.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. Research analysts anticipate that Cactus, Inc. will post 3.07 EPS for the current year.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a dividend of $0.15 per share. This is a positive change from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. Cactus’s dividend payout ratio (DPR) is 47.86%.

Insider Buying and Selling

In other Cactus news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction dated 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 transaction, the director directly owned 29,444 shares of the company’s stock, valued at $1,667,119.28. The trade was a 25.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Joel Bender sold 86,700 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $57.62, for a total transaction of $4,995,654.00. Following the sale, the president owned 41,519 shares in the company, valued at $2,392,324.78. This trade represents a 67.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 260,661 shares of company stock worth $15,827,218 over the last 90 days. 12.91% of the stock is owned by insiders.

Analyst Ratings Changes

WHD has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings upgraded Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Citigroup raised their target price on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Stifel Nicolaus upped their price target on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Piper Sandler increased 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. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.20.

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.