Fort Washington Investment Advisors Inc. OH Raises Stake in Cactus, Inc. $WHD

Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Cactus, Inc. (NYSE:WHD) by 25.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 616,788 shares of the company’s stock after acquiring an additional 125,864 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.77% of Cactus worth $28,175,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WHD. EverSource Wealth Advisors LLC boosted its stake in shares of Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 259 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Cactus by 0.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock worth $2,532,000 after purchasing an additional 269 shares during the period. California State Teachers Retirement System raised its position in Cactus by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 66,538 shares of the company’s stock worth $2,909,000 after purchasing an additional 306 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Cactus by 4.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,687 shares of the company’s stock worth $384,000 after purchasing an additional 308 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Cactus by 1.6% during the third quarter. Arizona State Retirement System now owns 20,258 shares of the company’s stock valued at $800,000 after buying an additional 321 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cactus

In other news, President Joel Bender sold 106,809 shares of Cactus stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total value of $5,331,905.28. Following the sale, the president directly owned 27,793 shares in the company, valued at approximately $1,387,426.56. This trade represents a 79.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 200,000 shares of company stock valued at $10,039,080. 13.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WHD has been the topic of a number of recent research reports. Citigroup raised their price objective on Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Barclays increased their target price on Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Piper Sandler assumed coverage on Cactus in a research note on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 price target on the stock. Finally, Zacks Research downgraded Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

Cactus Price Performance

WHD stock opened at $48.32 on Friday. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 4.83 and a beta of 1.25. The firm’s 50-day moving average price is $53.11 and its two-hundred day moving average price is $46.34. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $59.25.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The company had revenue of $261.20 million during the quarter, compared to analyst estimates of $250.60 million. During the same period in the prior year, the business posted $0.71 earnings per share. Cactus’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, equities analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd were issued a $0.14 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.56 annualized dividend and a yield of 1.2%. Cactus’s dividend payout ratio (DPR) is 23.33%.

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.