Cactus (NYSE:WHD) Reaches New 1-Year High at $41.49

Cactus, Inc. (NYSE:WHD)’s stock price hit a new 52-week high on Friday . The company traded as high as $41.49 and last traded at $40.83, with a volume of 858 shares traded. The stock had previously closed at $40.88.

A number of analysts have issued reports on WHD shares. Piper Sandler reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Cactus in a research note on Monday, March 15th. Barclays raised shares of Cactus from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $33.00 to $37.00 in a research note on Monday, May 3rd. Finally, Morgan Stanley upgraded shares of Cactus from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $33.00 to $40.00 in a report on Thursday, March 25th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.67.

The firm’s 50 day simple moving average is $33.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.98 and a quick ratio of 6.44. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 81.76 and a beta of 2.42.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, May 5th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Cactus had a net margin of 9.69% and a return on equity of 3.83%. As a group, equities research analysts expect that Cactus, Inc. will post 0.71 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Monday, May 31st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, May 27th. Cactus’s payout ratio is 49.32%.

In other news, Director Gary L. Rosenthal sold 5,000 shares of the company’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $35.35, for a total transaction of $176,750.00. Following the completion of the transaction, the director now owns 19,593 shares of the company’s stock, valued at approximately $692,612.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Scott Bender sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 26th. The stock was sold at an average price of $34.35, for a total transaction of $1,717,500.00. Following the transaction, the chief executive officer now directly owns 120,464 shares of the company’s stock, valued at approximately $4,137,938.40. The disclosure for this sale can be found here. Company insiders own 21.28% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Sei Investments Co. raised its holdings in Cactus by 2.2% in the fourth quarter. Sei Investments Co. now owns 30,340 shares of the company’s stock valued at $804,000 after acquiring an additional 662 shares in the last quarter. Pitcairn Co. raised its position in Cactus by 6.2% in the first quarter. Pitcairn Co. now owns 13,513 shares of the company’s stock worth $414,000 after acquiring an additional 790 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Cactus by 47.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,100 shares of the company’s stock valued at $81,000 after purchasing an additional 1,000 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Cactus by 1,747.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,330 shares of the company’s stock valued at $41,000 after acquiring an additional 1,258 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Cactus by 6.6% during the first quarter. UBS Group AG now owns 20,794 shares of the company’s stock valued at $637,000 after purchasing an additional 1,281 shares during the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

About Cactus (NYSE:WHD)

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

See Also: 52-Week High/Low

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