Ceredex Value Advisors LLC Lowers Stock Holdings in Cactus, Inc. (NYSE:WHD)

Ceredex Value Advisors LLC lessened its stake in shares of Cactus, Inc. (NYSE:WHD) by 37.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 167,019 shares of the company’s stock after selling 98,800 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Cactus were worth $9,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. acquired a new position in Cactus in the 2nd quarter valued at $122,623,000. Makaira Partners LLC increased its stake in shares of Cactus by 399.6% during the second quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock worth $26,348,000 after acquiring an additional 399,581 shares during the period. Principal Financial Group Inc. lifted its position in Cactus by 3,604.5% in the second quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock valued at $17,221,000 after purchasing an additional 317,704 shares during the period. Barlow Wealth Partners Inc. acquired a new stake in Cactus in the second quarter valued at about $14,553,000. Finally, Renaissance Technologies LLC boosted its holdings in Cactus by 179.2% in the 2nd quarter. Renaissance Technologies LLC now owns 238,700 shares of the company’s stock valued at $12,589,000 after purchasing an additional 153,200 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on WHD. Piper Sandler reduced their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Stifel Nicolaus decreased their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Citigroup increased their price target on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Barclays boosted their price objective on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Bank of America increased their target price on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.40.

Cactus Stock Performance

NYSE:WHD opened at $60.58 on Friday. The company has a current ratio of 3.82, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.82 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 2.83 and a beta of 1.95. The firm has a 50-day moving average price of $59.76 and a two-hundred day moving average price of $55.83. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $64.96.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. As a group, research analysts expect that Cactus, Inc. will post 3.04 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s payout ratio is currently 18.44%.

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.