Cactus (NYSE:WHD) Sets New 1-Year High – Here’s Why

Cactus, Inc. (NYSE:WHD)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $72.69 and last traded at $71.9890, with a volume of 963945 shares. The stock had previously closed at $71.07.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wall Street Zen raised shares of Cactus from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Citigroup boosted their price target on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Barclays upped their price target on Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.20.

Cactus Trading Down 0.4%

The business’s fifty day moving average price is $57.18 and its 200 day moving average price is $55.31. 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 firm has a market capitalization of $5.78 billion, a PE ratio of 61.65, a P/E/G ratio of 2.59 and a beta of 1.36.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.29. The business had revenue of $449.53 million for 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 company’s quarterly revenue was up 64.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. As a group, analysts expect that Cactus, Inc. will post 3.07 EPS for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. This is a boost from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. Cactus’s dividend payout ratio (DPR) is currently 47.86%.

Insiders Place Their Bets

In other news, CEO Stephen Tadlock sold 38,455 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 43,178 shares in the company, valued at $2,754,756.40. This represents a 47.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Joel Bender sold 86,700 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the president directly owned 41,519 shares in the company, valued at $2,392,324.78. This represents a 67.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 263,455 shares of company stock valued at $16,261,764 in the last quarter. Corporate insiders own 12.91% of the company’s stock.

Hedge Funds Weigh In On Cactus

Large investors have recently bought and sold shares of the stock. VELA Investment Management LLC raised its holdings in Cactus by 24.2% during the 4th quarter. VELA Investment Management LLC now owns 146,042 shares of the company’s stock worth $6,671,000 after purchasing an additional 28,493 shares during the last quarter. Paradice Investment Management LLC boosted its stake in shares of Cactus by 16.1% in the 4th quarter. Paradice Investment Management LLC now owns 675,932 shares of the company’s stock valued at $30,877,000 after purchasing an additional 93,714 shares during the last quarter. UBS Group AG boosted its stake in shares of Cactus by 81.8% in the 4th quarter. UBS Group AG now owns 380,513 shares of the company’s stock valued at $17,382,000 after purchasing an additional 171,223 shares during the last quarter. Vest Financial LLC grew its position in shares of Cactus by 24.7% during the 4th quarter. Vest Financial LLC now owns 134,568 shares of the company’s stock worth $6,147,000 after buying an additional 26,669 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of Cactus during the first quarter worth approximately $41,895,000. Hedge funds and other institutional investors 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.