Moody Aldrich Partners LLC Decreases Stake in Cactus, Inc. (NYSE:WHD)

Moody Aldrich Partners LLC cut its holdings in Cactus, Inc. (NYSE:WHD) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 124,025 shares of the company’s stock after selling 2,252 shares during the period. Cactus comprises about 1.3% of Moody Aldrich Partners LLC’s holdings, making the stock its 17th biggest position. Moody Aldrich Partners LLC’s holdings in Cactus were worth $7,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of WHD. GAMMA Investing LLC raised its position in Cactus by 33.8% in the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock worth $71,000 after acquiring an additional 340 shares during the period. SG Americas Securities LLC purchased a new position in Cactus in the first quarter valued at approximately $115,000. Covestor Ltd grew its holdings in Cactus by 251.8% during the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after purchasing an additional 1,795 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Cactus in the first quarter worth $182,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Cactus in the first quarter valued at $202,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Cactus Price Performance

NYSE:WHD traded down $0.51 during mid-day trading on Thursday, hitting $58.18. 42,124 shares of the stock traded hands, compared to its average volume of 735,524. The business’s 50-day moving average price is $59.84 and its 200 day moving average price is $55.52. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.63 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.84 and a beta of 1.95. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $64.96.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm had revenue of $290.39 million during the quarter, compared to analyst estimates of $276.76 million. During the same period in the previous year, the business earned $0.84 EPS. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, analysts expect that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a $0.13 dividend. This is a positive change from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, August 26th. Cactus’s dividend payout ratio is currently 18.06%.

Cactus 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.