Cornerstone Investment Partners LLC Boosts Stock Holdings in Cactus, Inc. (NYSE:WHD)

Cornerstone Investment Partners LLC grew its holdings in Cactus, Inc. (NYSE:WHD) by 27.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,235 shares of the company’s stock after buying an additional 1,982 shares during the period. Cornerstone Investment Partners LLC’s holdings in Cactus were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in shares of Cactus by 27.5% during the 3rd quarter. Creative Planning now owns 11,292 shares of the company’s stock worth $674,000 after purchasing an additional 2,433 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Cactus by 10.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after buying an additional 307 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Cactus by 1.3% in the third quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock valued at $925,000 after acquiring an additional 200 shares in the last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of Cactus in the third quarter valued at about $226,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Cactus by 4.8% in the third quarter. Principal Financial Group Inc. now owns 342,278 shares of the company’s stock valued at $20,424,000 after acquiring an additional 15,760 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays downgraded shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.40.

Cactus Price Performance

Shares of NYSE:WHD opened at $50.30 on Tuesday. Cactus, Inc. has a twelve month low of $44.57 and a twelve month high of $70.01. The company’s 50 day moving average is $59.83 and its 200 day moving average is $61.08. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.00 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 5.13 and a beta of 1.97.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The firm had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. On average, sell-side analysts forecast that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.03%. Cactus’s payout ratio is 18.84%.

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.