Fifth Third Bancorp Buys 16,283 Shares of Cactus, Inc. $WHD

Fifth Third Bancorp boosted its stake in shares of Cactus, Inc. (NYSE:WHD) by 3,161.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,798 shares of the company’s stock after purchasing an additional 16,283 shares during the period. Fifth Third Bancorp’s holdings in Cactus were worth $796,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. bought a new stake in Cactus in the 3rd quarter worth approximately $33,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Cactus by 73.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after buying an additional 314 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after buying an additional 543 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Cactus by 39,200.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock worth $54,000 after buying an additional 1,176 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Cactus by 335.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,710 shares of the company’s stock worth $78,000 after buying an additional 1,317 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Insider Transactions at Cactus

In related news, Director Michael Y. Mcgovern sold 12,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the completion of the transaction, the director owned 15,990 shares in the company, valued at approximately $904,554.30. This represents a 42.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Semple sold 10,206 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the transaction, the director directly owned 29,444 shares of the company’s stock, valued at $1,667,119.28. The trade was a 25.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 12.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of research reports. Barclays upped their price objective on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 target price (up from $66.00) on shares of Cactus in a research report on Tuesday, June 16th. Piper Sandler boosted their price target on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Citigroup upped their price target on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Finally, Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.60.

Cactus Stock Performance

WHD opened at $53.86 on Tuesday. The company has a 50 day simple moving average of $55.81 and a two-hundred day simple moving average of $54.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71. The firm has a market cap of $4.32 billion, a P/E ratio of 50.81, a PEG ratio of 2.08 and a beta of 1.38. Cactus, Inc. has a 1-year low of $33.20 and a 1-year high of $64.30.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The firm had revenue of $388.35 million for the quarter, compared to the consensus estimate of $380.42 million. During the same period last year, the firm earned $0.73 EPS. The company’s revenue was up 38.5% on a year-over-year basis. Equities analysts forecast that Cactus, Inc. will post 2.92 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. Cactus’s dividend payout ratio (DPR) is currently 52.83%.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.