Alliance Wealth Advisors LLC UT Raises Stock Position in Cactus, Inc. (NYSE:WHD)

Alliance Wealth Advisors LLC UT raised its stake in shares of Cactus, Inc. (NYSE:WHD) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,472 shares of the company’s stock after purchasing an additional 412 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in Cactus were worth $709,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its position in shares of Cactus by 10,002.6% in the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company’s stock worth $20,993,000 after buying an additional 453,519 shares during the period. First Trust Advisors LP grew its position in shares of Cactus by 34.6% in the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company’s stock worth $90,841,000 after buying an additional 400,452 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Cactus in the 4th quarter worth about $16,377,000. Nuveen LLC purchased a new stake in shares of Cactus in the 1st quarter worth about $11,494,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Cactus in the 4th quarter worth about $14,285,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Stock Performance

Shares of NYSE WHD opened at $39.70 on Friday. The firm’s 50-day moving average price is $43.94 and its 200-day moving average price is $45.48. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.17 billion, a PE ratio of 14.98, a PEG ratio of 3.80 and a beta of 1.48. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The company had revenue of $273.58 million for the quarter, compared to analysts’ expectations of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. The business’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. As a group, analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. This is a boost from Cactus’s previous quarterly dividend of $0.13. Cactus’s payout ratio is 21.13%.

Analyst Ratings Changes

WHD has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Cactus from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Barclays reissued an “overweight” rating and set a $52.00 price objective (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. Wall Street Zen downgraded shares of Cactus from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Stifel Nicolaus cut their price objective on shares of Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $50.75.

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.